During the first years of this century,the number of packages arriving at households has more than doubled.An increase in the price of the cardboard boxes in which these packages are shipped will have little effect on the amount of shipping done;the demand for the boxes will continue to increase.What is the demand for the cardboard boxes?

Question

Quizplus · Accepted Answer

A product is price inelastic if a change in price causes little or no change in demand.Boxes are a fairly insignificant cost item in the overall costs of a product and might even be considered a necessity item.

During the First Years of This Century,the Number of Packages