Question

question 6 points 1 a product is considered elastic if _. the quantity demanded of the particular good or service is very dependent on price the quantity demanded of a particular good or service is not dependent on price the market forces for the quantity demanded of a particular good or service is protected by taxes the quantity supplied of the particular good or service is not dependent on price questions 5/10 answered reset reset button will be enabled after completing this assessment. 1/2 available

Explanation:

Elasticity in economics measures how responsive quantity demanded or supplied is to a change in price. High dependence of quantity demanded on price indicates elasticity.

Answer:

A product is considered elastic if the quantity demanded of the particular good or service is very dependent on price.