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Sagot :
When the demand for a specific good is inelastic, it means that the demand for that good/ item remains constant even with changes in economic factors.
An inelastic demand refers to one in which the change in quantity demanded due to a change in price is significantly small and the curve drawn between price of the product and quantity of item is close to one. It results in comparatively less overall revenue earned from the item due to the lower price and no change in demand. Generally, the necessity goods have inelastic demand. Here, the total revenue and price move in the same direction in the graph and it is steeper in nature.
Learn more about inelastic demand at:
brainly.com/question/20943898
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