General

Demand for pins is: elastic inelastic Perfectly elastic Perfectly inelastic

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Inelastic demand occurs when a buyer’s demand for a product does not fluctuate as much as its price.

This is a common occurrence with everyday household items and services.

People will continue to buy approximately the same number of items or services as before the price increase since their needs are unchanged.

When prices are reduced, a similar issue occurs: demand will not grow significantly since customers only have a limited need for the product.
Final Answer:
The correct option is B.
Demand for pins is inelastic.

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