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Demand is inelastic if the price elasticity of demand is
Price-Inelastic
Describes a situation where the demand for a product does not change significantly with a change in the product's price.
Coefficient
A constant or numerical value that precedes and multiplies a variable within an algebraic expression.
Perfectly Inelastic
A situation where demand or supply does not change in response to changes in price.
Supply
The total amount of a specific good or service that is available to consumers at a given price point and time.
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