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Which of the following statements best describes a product that is considered inelastic? a) The product is made of stretchy material

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Which of the following statements best describes a product that is considered inelastic?

a) The product is made of stretchy material.

b) The demand for the product is not affected by an increase in price.

c) The demand for the product is affected by an increase in price.

d) The product is imported by foreign companies.