If the percentage change in quantity is less than the percentage change in price, demand is said to be price inelastic.

Name: If the percentage change in quantity is less than the percentage change in price, demand is said to be price inelastic.
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Quizplus · Accepted Answer

This is the definition of price inelastic demand. When the quantity demanded changes less than the price changes, it indicates that consumers are not very sensitive to price changes and are willing to pay a higher price for the product.

If the Percentage Change in Quantity Is Less Than the Percentage