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Jenny is a staunch atheist who doesn't particularly like religious people. One day at lunchtime, her fellow atheist friend Jack starts telling Jenny about an old friend he has, Tina, who is a Christian. When Jenny discovers that Jack has such a close friend who is religious, she begins to wonder 'perhaps religious people aren't quite as bad as I thought?' This is an example of:
Inelastic
Describes a situation in economics where the demand or supply for a good or service is not significantly altered when the price changes.
Inelastic Demand
A situation where the demand for a product does not change significantly when its price changes.
Marginal Revenue Product
The additional revenue generated from employing one more unit of a factor of production, holding all other factors constant.
Inelastic
Describes a situation in economics where the demand or supply of a good is not significantly changed when the price of the good changes.
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