Inelastic demand is a situation in which:
a.
prices are adjusted over time to maximize a company's revenues.
b.
demand is created for new products by aggressive brand awareness campaigns.
c.
consumers' demand is sensitive to price changes.
d.
an increase or a decrease in price does not significantly affect the demand for a product.
Answer: d.
an increase or a decrease in price does not significantly affect the demand for a product.
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Marketing
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