A 4 percent decrease in the price will lead to an increase in the quantity demanded by less than 4 percent.
Demand simply means the amount of goods and services that a buyer wants to buy at a particular price and time.
When the demand for product x is inelastic, a 4 percent decrease in the price of x will lead to an increase in the quantity demanded by less than 4 percent.
Learn more about demand on:
https://brainly.com/question/1245771
