Demand Is Said to Be Inelastic If

question 48

Multiple Choice

Demand is said to be inelastic if

• A)buyers respond substantially to changes in the price of the good.
• B)demand shifts only slightly when the price of the good changes.
• C)the quantity demanded changes only slightly when the price of the good changes.
• D)the price of the good responds only slightly to changes in demand.

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Definitions:

Format

A structure or layout of data that specifies its arrangement and organization.

Rapport

A positive relationship characterized by mutual understanding, trust, and agreement between people.

Empathy

The ability to understand and share the feelings of another person from their perspective.

Afferent

Relating to or denoting nerve fibers that carry impulses toward the central nervous system.