Question

Which accurately describes a situation in which consumers have elastic demand?

Answer 1

A restaurant starts using margarine instead of butter because

butter becomes more expensive.

Step-by-step explanation:

Answer 2

I think a good situation would be when people would stop consuming pasta because they are currently planning to lose weight.

For restaurants that specialize in pasta would definitely be affected by the situation. They would definitely lower down the prices of their pasta specials. It would also affect the producers of pasta because of the decline of these restaurants. For the consumers' end, it would not affect them much because they can substitute pasta with another food which is healthier for them.