Inelastic

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August 31, 2024 3 min read Definitions
Inelastic: Understanding Low Sensitivity to Price Changes
Economics Finance Inelastic Price Elasticity of Demand Economics Principles Market Behavior Pricing Strategy
Inelastic demand describes a situation where the quantity demanded of a good or service is not significantly affected by changes in its price. This concept plays a critical role in economics, particularly in the analysis of market behavior and pricing strategies.
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