Demand is said to be __________ when the quantity demanded is not very responsive to changes in price. Group of answer choices unit elastic independent inelastic elastic

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Swarnamayee Mallia · Answer 1 · 2022-05-07T23:54:24+0000

Answer:

Inelastic

Step-by-step explanation:

Inelastic is the correct answer because elasticity is the magnitude that exhibits the responsiveness of demand for the commodity when there is a change in price. For example, if the price changes by 100% and due to the change in price, the change in quantity is only 10%. Then it can be deduced that the elasticity is inelastic because the percentage is lower than the percentage in price.

Demand is said to be __________ when the quantity demanded is not very responsive to changes in price. Group of answer choices unit elastic independent inelastic elastic

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