The slope of demand curve is ________ in case of inelastic demand. (flatter / steeper / horizontal / vertical), Fill in the blank with appropriate alternative given in the bracket.
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The slope of demand curve is flatter in case of inelastic demand.
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Answer:
In this question,
The slope of demand curve is steeper in case of inelastic demand.
Inelastic demand is a demand in which demand for a good is less responsive to its price.For example - demand of Salt,because salt has no close substitutes and make a very small amount of household budget. Due to this, change in the price of the salt has a little or no impact on its quantity demanded.
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