The demand for a good is highly inelastic if __________________
A. the price elasticity of the good is close to zero.
B. the income elasticity of the good is close to one
C. if it is a necessity
D. both a and c.
Answer:D
The demand for a good is highly inelastic if __________________
A. the price elasticity of the good is close to zero. B. the income elasticity of the good is close to one C. if it is a necessity D. both a and c.