When demand is inelastic:
A) price elasticity of demand is greater than 1.
B) consumers are not very responsive to changes in price.
C) the percentage change in quantity demanded resulting from a price change is greater than the percentage change in price.
D) demand curves appear to be fairly flat.

Question

Quizplus · Accepted Answer

When demand is inelastic, consumers are not very responsive to changes in price, meaning that changes in price do not significantly affect the quantity demanded. This is the definition of inelastic demand.

When Demand Is Inelastic