An inelastic demand if people still continue to purchase

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An item is said to have an inelastic demand if people still continue to purchase it at near their previous rate of purchase even with a price increase. In other words, demand is not very responsive to price changes. What is an item with inelastic demand to you i.e. what is something you will still continue to purchase without much reduction in the quantity purchased even if there was a price increase.Need at least a 120 word answer.

Reference no: EM13945352

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