Demand Is Inelastic If

question 139

Multiple Choice

Demand is inelastic if

• A)a small change in price results in a large change in quantity demanded.
• B)the quantity demanded is very responsive to a change in price.
• C)the price elasticity of demand is 0.2.
• D)the price does not change when supply increases.
• E)a 10 percent change in price results in a 1 percent change in the quantity supplied.

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