Answers Academy - Economics and Personal Finance Unit TestQuestion 3

3

QuizMultiple Choice

Unit Test

Question 3 • Academy - Economics and Personal Finance

What does elasticity measure in economics?

Answer

h

how the amount of a good changes when the producer hires more employees

h

how the amount of a good changes when the producer uses new materials

h

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

h

how the amount of a good changes when its distribution expands

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