If demand hardly changes with a small change in price, the demand is said to be ________.
A) strained
B) marginal
C) inelastic
D) flexible
E) unit elastic

Question

Quizplus · Accepted Answer

When demand is inelastic, a change in price will result in a proportionally smaller change in quantity demanded. In other words, consumers are not very responsive to changes in price, meaning that demand does not fluctuate significantly with small changes in price.

If Demand Hardly Changes with a Small Change in Price