If the price of a good increases by 10 and the quantity demanded remains unchanged then at that price the good is inelastic.
Given that if the price of a good increases by 10 and the quantity demanded remains unchanged.
We have to fill the term such that the sentence can be completed.
The term that can be filled in the sentence is inelastic.
Quantity demanded is the amount of good that the consumers in the economy wants to buy and consume.
Elasticity is the basically ability of a body to resist a distorting influence and to return to its original size and shape when that influence or force is removed.
Price elasticity of demand is basically the percentage change in quantity demanded divided by percentage change in price.
When the quantity demanded does not change then the quantity is inelastic.
Hence if the price of a good increases by 10 and the quantity demanded remains unchanged then at that price the good is inelastic.
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