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"If the percentage change in quantity demanded is less than the percentage" change in price for good Y, then the demand for good Y is:
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"If the percentage change in quantity demanded is less than the percentage" change in price for good Y, then the demand for good Y is:

User Ionut Panescu
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Answer: The correct answer is : inelastic.

Explanation: If quantity demanded is completely unresponsive to changes in price, demand is perfectly inelastic. Consumers will pay the full tax that is placed on the sellers of a good if demand is perfectly inelastic. If the percentage change in the quantity demanded is less than the percentage change in the price, the demand is said to be inelastic to the price.

User James Parker
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