Answered

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The demand for a product is inelastic with respect to price if:.

Sagot :

The demand for a product is inelastic with respect to price if the percentage change in price greater than the percentage change in quantity demanded.

What is inelastic demand?

Demand is inelastic when the percentage change in the quantity demanded is less than the percentage change in price. The elasticity of demand is less than 1.

The elasticity of demand = percentage change in quantity demanded / percentage change in price

To learn more about price elasticity of demand, please check: https://brainly.com/question/18850846

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