If demand is very inelastic,
A)The demand curve will be very flat.
B)The demand curve will be horizontal.
C)The demand curve will be very steep.
D)The demand curve is upward-sloping.

Question

Quizplus · Accepted Answer

When demand is very inelastic, it means that a change in price will not significantly affect the quantity demanded. This results in a steep demand curve, as shown by the fact that when price changes, there is only a slight change in the quantity demanded. If the demand curve were very flat or horizontal, it would indicate a very elastic demand, where changes in price have a large effect on the quantity demanded. An upward-sloping demand curve would indicate a normal, upward-sloping demand, which may or may not be relatively elastic depending on the degree of slope.

If Demand Is Very Inelastic