Although the price of a chemical added to paint to protect surfaces from mold and mildew has almost doubled,the price of paint has risen an average of only 5 percent,and the demand for both paint and the chemical that eliminates mold and mildew has remained stable.The demand for this chemical is:

Question

Quizplus · Accepted Answer

A good is price inelastic if a change in price leads to a small change in quantity demanded or does not significantly affect demand for the product.

Although the Price of a Chemical Added to Paint to Protect