A business decreases the price of their product by 10%, as a result, consumer demand for the product has also increased by 10%. Which term does the scenario best describe? a. demand elasticity c. inelastic demand b. elastic demand d. unit elastic demand

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Q: A business decreases the price of their product by 10%, as a result, consumer demand for the product has also increased by 10%. Which term does the scenario best describe? a. demand

elasticity c. inelastic demand b. elastic demand d. unit elastic demand

A: Inelastic demand does the scenario best describe.

jeifunk|Points 8531|

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Asked 1/29/2013 12:34:01 PM

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