Answer:
A)
Explanation:
Inelastic demand means that the demand would not change as price changes. It generally happens for goods that are non-replacable, with little competition, and other factors (e.g. location, short-run) that make the buyer insensitive to the price.
The product has inelastic demand, then demand will stay the same even as prices change. Thus, option (A) is correct.
The Inelastic Demand refers to the concept in which change in the prices of the commodity initiates the little change or no change in the demand. For example, The essential goods have the inelastic demand.
The product which has inelastic demand will have the demand same as the level of the price changes. Therefore, Thus, option (A) is correct.
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