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If the demand for product X is inelastic, a 4% increase in the price of X will (Points : 1) decrease the quantity of X demanded by more than 4%. decrease the quantity of X demanded by less than 4%. increase the quantity of X demanded by more than 4%. increase the quantity of X demanded by less than 4%.
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Asked 1/19/2013 8:03:21 PM
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User: If the demand for product X is inelastic, a 4% increase in the price of X will (Points : 1) decrease the quantity of X demanded by more than 4%. decrease the quantity of X demanded by less than 4%. increase the quantity of X demanded by more than 4%. increase the quantity of X demanded by less than 4%.

Weegy: Inelastic is an economic term used to describe the situation in which the supply and demand for a good are unaffected when the price of that good or service changes. Read more:
Darkiedark|Points 874|

User: If the price of hand calculators falls from $10 to $9 and, as a result, the quantity demanded increases from 100 to 125, then (Points : 1) demand is elastic. demand is inelastic. demand is of unit elasticity. not enough information is given to make a statement about elasticity.

Weegy: DEMAND IS ELASTIC. If the price of hand calculators falls from $10 to $9 and, as a result, the quantity demanded increases from 100 to 125, then demand is elastic.
Expert answered|andrewpallarca|Points 18687|

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