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MMLU / Inelastic demand occurs when the

Problem

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question

Inelastic demand occurs when the

choices

  1. quantity demanded changes a great deal as prices fluctuate
  2. quantity demanded barely changes with a change in price
  3. change in quantity demanded is in the same proportion as the change in price
  4. demand curve and the supply curve intersect at a given price point

subject

marketing

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Source and history

Official source

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