Q350
An insensitivity of demand in relevance to change in price will be called
A.
demand elasticity
B.
price elasticity
C.
price inelasticity
D.
demand inelasticity
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
An insensitivity of demand in relevance to change in price will be called demand inelasticity. Inelastic demand is when the buyer's demand does not change as much as the price changes.