The correct answer is: D. price inelastic
Price elasticity of demand is a measure of how responsive consumers are to changes in the price of a good or service. A good or service with an inelastic demand curve is one where consumers are relatively unresponsive to changes in price. This means that a small change in price will lead to a relatively small change in demand.
In contrast, a good or service with an elastic demand curve is one where consumers are relatively responsive to changes in price. This means that a small change in price will lead to a relatively large change in demand.
When demand is inelastic, a shift in supply will have a bigger effect on price than output. This is because a small change in supply will lead to a relatively large change in price, which will have a relatively small effect on demand. As a result, output will not change very much.
When demand is elastic, a shift in supply will have a smaller effect on price than output. This is because a small
448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube