Elasticity measures the behavioral response of economic agents in a given situation.

which of the following questions is likely to be answered using elasticity?

a)if a business raises it prices, will that have a large or small on demand?

b) if you get a pay raise, are you more productive at work?

c)if hot dogs go on sale, will it be sunny day?

The correct answer is letter "A": If a business raises it prices, will that have a large or small on demand?

Explanation:

Elasticity is a measure of a variables' reaction to a change in another variable. It can describe the extent to which the supply or demand for a good or service changes with the price of goods or consumer income. When an item has many possible substitutes, its demand will be more elastic.

in terms of experimental research, mcdonald’s charging different prices in the two cities relates to

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