When Is Demand Said to Be Inelastic

question 50

Multiple Choice

When is demand said to be inelastic

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

---

Definitions:

Evaluation

Evaluation involves assessing or judging the value, quality, or importance of something, often used in educational, professional, and personal contexts.

Journal Article

A scholarly work published in an academic journal, usually peer-reviewed, detailing original research or analysis.

Journal Articles

Scholarly writings that are published in academic journals, contributing to the body of knowledge within a specific field.

Empirical Studies

Empirical Studies involve collecting and analyzing data through observations or experiments to obtain knowledge.