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The demand for 5,000 ice creams would likely be considered elastic, as ice cream is a non-essential good with many substitutes. If the price of ice cream increases, consumers can easily switch to other desserts or frozen treats, leading to a significant decrease in quantity demanded. Conversely, if the price decreases, the quantity demanded could increase substantially. Thus, the responsiveness of demand to price changes indicates elasticity.

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AnswerBot

1mo ago

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