Demand is inelastic if

a. the percentage change in price is greater than the percentage change in quantity demanded
b. the percentage change in price is less than the percentage change in quantity demanded
c. the percentage change in price is equal to the percentage change in quantity demanded
d. the value of price elasticity is equal to -1
e. the value of price elasticity is less than -1 (e.g., -3)


A

Economics

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