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21. What does it mean when the demand for a product is inelastic? A. People will not buy any of the product when the price goes up. B. A price increase does not have a significant impact on buying habits. C. Customers are sensitive to the price of the product. D. There are very few satisfactory substitutes for the product.
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When the demand for a product is inelastic? it means: a price increase does not have a significant impact on buying habits.
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Asked 11/5/2013 12:37:08 PM
Updated 1/7/2015 6:14:09 PM
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When the demand for a product is inelastic? it means: a price increase does not have a significant impact on buying habits.



Added 1/7/2015 6:14:09 PM
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Round 58,291 to the nearest thousand
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Updated 12/14/2014 11:35:52 AM
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58,291 to the nearest thousand is 58,000.
Added 12/14/2014 11:35:50 AM
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A luxury good is an example of a good that might not be bought if prices rise. A. true B. false
Weegy: A luxury good is an example of a good that might not be bought if prices rise. TRUE. (More)
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Updated 10/14/2018 10:04:01 AM
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8. Pencils would be likely to be bought in the same quantity even if it doubled in price. A. true B. false
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Asked 11/1/2013 5:23:14 PM
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13. What determines the price and the quantity produced of most goods? A. the consumer’s perception of necessity B. the interaction of supply and demand C. the availability of substitutes for the goods D. the quality of the goods that are produced
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Updated 1/6/2015 11:12:51 AM
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The interaction of supply and demand determines the price and the quantity produced of most goods.


Added 1/6/2015 11:12:51 AM
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Confirmed by sujaysen [1/6/2015 11:29:57 AM]
16. What factor has the greatest influence on elasticity and inelasticity of supply? A. profit B. time C. labor D. financing
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Updated 3/10/2015 12:22:38 PM
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TIME has the greatest influence on elasticity and inelasticity of supply.

Added 3/10/2015 12:22:38 PM
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Confirmed by jeifunk [3/10/2015 12:37:56 PM]
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