When Is Demand Inelastic

question 49

Multiple Choice

When is demand inelastic?

• A) if price stays the same and revenue goes down
• B) if price goes down and revenue goes down
• C) if price goes up or down and revenue stays the same
• D) if price goes up and revenue goes down

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Definitions:

Endogamous

Pertaining to the practice of marrying within a specific social group, caste, or ethnicity, often to maintain cultural or religious continuity.

Incestuous

Involving sexual relations between close relatives who are forbidden by law or cultural norms to marry.

Economic Unit

A group of individuals, typically members of a family, seen as a single entity for economic and financial analysis.

Emotionally Committed

Describes a state of being deeply invested in a relationship or cause, involving significant emotional attachment and dedication.