Inelastic demand is a situation in which:​

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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