In imperfect competition,if prices have little or no effect on sales volume,demand is ________.
A) stable
B) uniform
C) highly elastic
D) highly inelastic

Question

Quizplus · Accepted Answer

In imperfect competition, if prices have little or no effect on sales volume, it means that demand is highly inelastic. This is because even if the price changes, consumers are still willing to buy the product, so the quantity demanded does not change significantly.

In Imperfect Competition,if Prices Have Little or No Effect on Sales