In the Context of Elasticity of Demand, What Does "Steep

Multiple Choice

In the context of elasticity of demand, what does "steep demand" mean?

A) A large increase in the quantity demanded will cause a small increase in wages.
B) A small increase in the quantity demanded will cause a large increase in wages.
C) A small increase in the quantity demanded will cause a small increase in wages.
D) A large increase in the quantity demanded will cause a large increase in wages.