Inelastic Demand Exists When

question 12

Multiple Choice

Inelastic demand exists when

• A) a small percentage decrease in price produces a smaller percentage increase in quantity demanded.
• B) a small percentage increase in price produces a larger percentage increase in quantity demanded.
• C) an increase in price is impossible due to government restrictions.
• D) the quantity demanded remains the same regardless of any changes in marketing strategies.
• E) a small percentage decrease in price produces a smaller percentage increase in quantity supplied.

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