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

Question

Quizplus · Accepted Answer

The fact that the price of the chemical has almost doubled and yet the demand for it remained stable suggests that the demand is not easily affected by changes in price, indicating inelastic demand.

Although the Price of a Chemical Added to Paint to Protect