Inelastic Demand Exists When

Multiple Choice

Inelastic demand exists when

A) a small percentage decrease in price produces a smaller percentage increase in quantity demanded.
B) a small percentage increase in price produces a larger percentage increase in quantity demanded.
C) an increase in price is impossible due to government restrictions.
D) the quantity demanded remains the same regardless of any changes in marketing strategies.
E) a small percentage decrease in price produces a smaller percentage increase in quantity supplied.