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If demand is inelastic then a 1% increase in price leads to a fall in demanded quantity of 1%. then a 1% increase in price leads to a fall in quantity demanded of greater than 1%. then a 1% increase in price leads to a rise in demanded quantity of less than 1%. then a 1% increase in price leads to a fall in quantity demanded of less than 1%. If demand is inelastic then a 1% increase in price leads to a fall in demanded quantity of 1%. then a 1% increase in price leads to a fall in quantity demanded of greater than 1%. then a 1% increase in price leads to a rise in demanded quantity of less than 1%. then a 1% increase in price leads to a fall in quantity demanded of less than 1%.
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