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What does elasticity measure in economics?
O how the amount of a good changes when the producer hires more employees
O how the amount of a good changes when the producer uses new materials
O how the amount of a good changes when its price goes up or down
Ohow the amount of a good changes when its distribution expands



Answer :

oyedokun

Answer:

O how the amount of a good changes when its price goes up or down.Elasticity measures the

Explanation:

Elasticity quantifies how responsive a good's amount supplied or sought is to price fluctuations. A high elasticity denotes a quantity that is sensitive to price fluctuations, whereas a low elasticity denotes a quantity that is less sensitive to price fluctuations.