what does elasticity measure in economics?\no how the amount of a good changes when the producer hires more…

what does elasticity measure in economics?\no how the amount of a good changes when the producer hires more employees\no how the amount of a good changes when the producer uses new materials\no how the amount of a good changes when its price goes up or down\no how the amount of a good changes when its distribution expands

what does elasticity measure in economics?\no how the amount of a good changes when the producer hires more employees\no how the amount of a good changes when the producer uses new materials\no how the amount of a good changes when its price goes up or down\no how the amount of a good changes when its distribution expands

Answer

Brief Explanations:

In economics, elasticity measures the responsiveness of the quantity demanded or supplied of a good to a change in its price. It shows how the quantity of a good changes as its price goes up or down.

Answer:

how the amount of a good changes when its price goes up or down