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Question Which statement best describes a product that is considered inelastic? Responses a The product is imported by foreign companies. b The product is made of stretchy mater…

Question Which statement best describes a product that is considered inelastic? Responses a The product is imported by foreign companies. b The product is made of stretchy mater…
asked 121k views
4 votes
Question

Which statement best describes a product that is considered inelastic?
Responses

a The product is imported by foreign companies.

b The product is made of stretchy material.

c The demand for the product is not affected by an increase in price.

d The demand for the product is affected by an increase in price.

asked
User Hwau
by
7.9k points

1 Answer

5 votes

Answer: c

The demand for the product is not affected by an increase in price.

answered
User Lostsource
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8.3k points
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