If the demand for product X is inelastic, a 10 percent decrease in the price of X will
A)decrease the quantity of X demanded by more than 10 percent.
B)decrease the quantity of X demanded by less than 10 percent.
C)increase the quantity of X demanded by more than 10 percent.
D)increase the quantity of X demanded by less than 10 percent.

Question

Quizplus · Accepted Answer

When demand is inelastic, a decrease in price leads to a less than proportionate increase in the quantity demanded.

If the Demand for Product X Is Inelastic, a 10