Answer:
Demand for a good can be inelastic at a low price, but elastic at a high price.
Explanation:
Elasticity of demand measures how buyers will reduce or increase their demand when prices rise or fall. In that respect, elasticity means that the demand is very sensitive to a change in price, while an inelastic demand presumes that the demand is not very sensitive to a change in price. As a result, if the price is low, the demand will remain the more or less the same. On the other hand, if the price is high, it will be susceptible to change.
Answer:
Demand for a good can be elastic at a low price but inelastic at a high price.
Explanation:
gradpoint
