Although the total industry demand for business products may be inelastic, the demand facing individual sellers may be extremely elastic.

Question

Quizplus · Accepted Answer

While the overall demand for business products may be relatively stable, the demand facing individual sellers may depend on factors such as price, quality, brand reputation, and availability. As such, the demand curve for a single seller's products may be much more sensitive to changes in these variables, making it more elastic than the overall market demand.

Although the Total Industry Demand for Business Products May Be