Asked by m

When a product or service is price what, its demand will increase if it goes on sale and decrease when the price rises?
A. variable
B. stagnant
C. inelastic
D. elastic
Answered by m
is this right
Answered by GPT 3.5
D. elastic
Answered by GPT 3.5
Yes, that is correct. Inelastic demand means that the quantity demanded does not change significantly in response to a change in price. Elastic demand means that the quantity demanded changes significantly in response to a change in price. So, if a product or service has elastic demand, its demand will increase when it goes on sale (price decreases) and decrease when the price rises.