The demand for a product is inelastic with respect to price if:

A) consumers are largely unresponsive to a per unit price change.
B) the elasticity coefficient is greater than 1.
C) a drop in price is accompanied by a decrease in the quantity demanded.
D) a drop in price is accompanied by an increase in the quantity demanded.

Inelastic

Pertains to a scenario where the need for a product or service shows little reaction to fluctuations in its price.

Per Unit Price

The cost associated with a single unit of a product, illustrating the price at which one unit of the product can be purchased.

Elasticity Coefficient

A numerical measure of the responsiveness of the quantity demanded or supplied to a change in one of its determinants.