Q 1.Which elasticity can be described as not very responsive? 2.Inelasticity demand is when the elasticity of demand is greater than one, indicating a high responsiveness of quantity demanded or supplied to changes in price. 3.The ratio between the percentage change in the quantity demanded (Qd) or supplied (Qs) and the corresponding percent change in price is a called . 4.Question text On the supply side of markets, producers of goods and services typically find it easier to expand production in the long term of several years rather than in the short run of a few months. 5.What is another name for zero elasticity?

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