Demand is labeled as ________ when a large change in price produces only a small change in demand.
A) flexible
B) consistent
C) inelastic
D) elastic
E) dynamic

Name: Demand is labeled as ________ when a large change in price produces only a small change in demand. A) flexible B) consistent C) inelastic D) elastic E) dynamic
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Question

Quizplus · Accepted Answer

Inelastic demand occurs when a significant change in price results in only a small change in the quantity demanded.

Demand Is Labeled as ________ When a Large Change in Price