Price Inelasticity Is When _________ While Price Elasticity Is When

Multiple Choice

Price inelasticity is when _________ while price elasticity is when __________.

A) Prices cannot be negotiated; consumers can negotiate a price
B) Consumers can negotiate a price; prices cannot be negotiated
C) The supply/demand curve is followed; consumers buy a product regardless of cost
D) Consumers buy a product regardless of cost; the supply/demand curve is followed
E) Prices change frequently; prices are relatively stable