The Demand Curve for Oil Is Inelastic, Meaning That the Quantity

Multiple Choice

The demand curve for oil is inelastic, meaning that the quantity of oil demanded:

A) rises by a lot even when the price of oil increases by only a little.
B) rises by only a little even when the price of oil increases by a lot.
C) falls by a lot even when the price of oil increases by only a little.
D) falls by only a little even when the price of oil increases by a lot.