6. The elasticity of demand becomes more elastic. This is because when many substitutes are available, consumers can easily switch to alternatives if the price of the good rises, making demand highly responsive to price changes.
7. ANSWER: 2.4
8. Elastic
9. For a good to be elastic means that the quantity demanded is highly responsive to changes in its price; a small change in price leads to a proportionally larger change in quantity demanded.
10. Inelastic
11. Left
12. Right. When the price of a substitute good (Good Y) increases, consumers will switch to Good X as a cheaper alternative, increasing the demand for Good X and shifting its demand curve to the right.
Parent Tip: Review the logic above to help your child master the concept of demand worksheet answers.
