Demand is inelastic ifMultiple Choicethe quantity demanded changes more or less proportionately with the price.the quantity demanded does not change very much even if the price changes dramatically.the demand curve is bowed inward towards the origin.the demand curve is bowed outward away from the origin.

Demand is said to be inelastic when:A. the percentage change in quantity demanded is greater than the percentage change in price of a goodB. in a linear demand curve, quantity demanded is close to zero (given the price) so that the percentage change in quantity demanded will be very highC. the percentage change in price exceeds the percentage change in quantity demanded of a goodD. a relatively small change in price results in a relatively big change in quantity demanded

Draw a graph if it would help you answer the question. When demand is perfectly inelastic, there is no change in quantity demanded following a change in priceGroup of answer choicesTrueFalse

An inelastic demand means thata.the change in quantity demanded is equal to the change in price.b.consumers respond directly to a change in income.c.consumers hardly respond to a change in price.d.consumers respond substantially to a change in price.

Demand is inelastic ifChoose one optiona leftward shift of the supply curve raises the total revenuelarge shifts of the supply curve lead to only small changes in pricethe good in question has close substitutesthe smaller angle between the vertical axis and the demand curve is less than 45 degrees

The price elasticity of demand measuresChoose one optionhow often the price of a good changeshow sensitive the quantity demanded is to changes in demandthe responsiveness of the quantity demanded to changes in pricethe slope of a budget curve