Demand for a product will be inelastic if:
a.
the product can be repaired and replaced or prolonged in its use.
b.
its price is so low that it is an inconsequential part of an individual's budget.
c.
the product has a number of different uses.
d.
many substitute products are available in the market.
Answer: b.
its price is so low that it is an inconsequential part of an individual's budget.