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    Question

    If demand is price inelastic, then

    A buyers do not respond much to a change in price Correct Answer Incorrect Answer
    B buyers respond substantially to a change in price, but the response is very slow Correct Answer Incorrect Answer
    C buyers do not respond much to advertising, fads, or general changes in tastes Correct Answer Incorrect Answer
    D the demand curve is very flat Correct Answer Incorrect Answer

    Solution

    Buyers do not respond much to changes in price id demand is inelastic and demand curve is very close to vertical.

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