The total demand for many business products is not much affected by price changes, especially in the short run.

Name: The total demand for many business products is not much affected by price changes, especially in the short run.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

In the short run, the demand for many business products is inelastic, meaning that changes in price do not significantly affect the total demand due to factors like long-term contracts and the necessity of the products for business operations.

The Total Demand for Many Business Products Is Not Much