Demand is said to be inelastic if Select one: a.the quantity demanded changes only slightly when the price of the good changes. b.the price of the good responds only slightly to changes in demand. c.buyers respond substantially to changes in the price of the good. d.demand shifts only slightly when the price of the good changes.

Demand is said to be inelastic if Select one: a.the quantity demanded changes only slightly when the price of the good changes. b.the price of the good responds only slightly to changes in demand. c.buyers respond substantially to changes in the price of the good. d.demand shifts only slightly when the price of the good changes.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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