The demand for a generic box of 50 paper clips is likely to be inelastic.

Name: The demand for a generic box of 50 paper clips is likely to be inelastic.
Brand: Quizplus
Rating: 4.8 (40 reviews)

Question

Quizplus · Accepted Answer

The demand for a generic box of 50 paper clips is likely to be inelastic because it is a low-cost, essential item that does not have many substitutes. Therefore, changes in its price would have little effect on the quantity demanded by consumers.

The Demand for a Generic Box of 50 Paper Clips