If the demand for a product stays almost constant throughout an industry regardless of the change in the price of the product,it can be said that the product is experiencing a(n)_____ demand.

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Quizplus · Accepted Answer

Inelastic demand refers to a situation where the demand for a product stays almost constant despite changes in its price. This means that consumers are not very responsive to price changes and still buy the same amount of the product regardless of the price.

If the Demand for a Product Stays Almost Constant Throughout