When Demand Is Inelastic

question 19

Multiple Choice

When demand is inelastic:

• A) price elasticity of demand is greater than 1.
• B) consumers are not very responsive to changes in price.
• C) the percentage change in quantity demanded resulting from a price change is greater than the percentage change in price.
• D) demand curves appear to be fairly flat.

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Definitions:

Susceptibility

The likelihood or tendency to be affected by something, typically in a negative way, such as disease, harm, or influence.

Incidence

A measure of the occurrence of new cases of a disease or event in a population over a specified period of time.

Menopause

The time in most women's lives when menstrual periods stop permanently, marking the end of reproductive capability.

Menarche

The first occurrence of menstruation in a female, signaling the beginning of reproductive capability.