The demand for a service is said to be price-elastic when a change in price has little effect on sales.

Name: The demand for a service is said to be price-elastic when a change in price has little effect on sales.
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When a change in price has little effect on sales, the demand for the service is said to be price-inelastic. Price-elastic demand means that a change in price has a significant effect on sales, resulting in a corresponding change in demand.

The Demand for a Service Is Said to Be Price-Elastic