Companies are fortunate to have demand that is more because they may be able to set higher prices.
A)fixed
B)internal
C)external
D)elastic
E)inelastic

Question

Quizplus · Accepted Answer

This is an example of inelastic demand, where consumers are willing to pay a higher price for the product regardless of its cost. This allows the company to set higher prices while maintaining demand for their product.

Companies Are Fortunate to Have Demand That Is More Because