question archive Assume the demand for a good is price inelastic, i
Assume the demand for a good is price inelastic, i
Subject:EconomicsPrice:2.88 Bought3
Assume the demand for a good is price inelastic, i.e., e d < 1 in absolute value . This means that if price decreases by 50 percent, quantity demanded will:
A) increase by less than 50 percent.
B) decrease by more than 50 percent.
C) decrease by less than 50 percent.
D) increase by more than 50 percent.
