Demand Is Inelastic If

question 78

Multiple Choice

Demand is inelastic if

• A) a given percentage change in price will result in a less than proportionate percentage change in the quantity demanded.
• B) demand exhibits zero responsiveness to price changes.
• C) small price increases will lead to zero quantity demanded.
• D) a given percentage change in price will result in a greater than proportionate percentage change in the quantity demanded.

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Definitions:

Call Back

The action of a salesperson or company returning a phone call to a client or prospect, often to provide information or continue a sales process.

Did Not Buy

A situation in which a prospective customer decides against making a purchase after considering a product or service.

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Potential contacts or leads generated through networking activities, which may result in business opportunities.

First Conversation

The initial interaction or communication between individuals, often setting the tone for future exchanges.