Question: Inelastic demand exists when: a slight increase or decrease in price will not significantly affect the demand, or units sold for the product. a small

Inelastic demand exists when:

a slight increase or decrease in price will not significantly affect the demand, or units sold for the product.

a small percentage decrease in price produces a larger percentage increase in quantity demanded and total revenue increases.

an increase in price causes a larger increase in quantity demanded and total revenue falls to zero.

a small percentage decrease in price produces a smaller percentage decrease in quantity demanded and total revenue increases.

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