Question 1 (10 points) Demand is price inelastic if: Question 1 options: the price of the good responds slightly to a quantity change. the demand curve shifts very little when a demand shifter changes. the percentage change in quantity demanded is relatively small in response to a relatively large percentage change in price. all of the above are true. Question 2 (10 points) If the absolute value of price elasticity is greater than 1, this means the demand curve in that region is: Question 2 options: price elastic. price inelastic. unit price elastic. upward sloping. Question 1 (10 points)Demand is price inelastic if:Question 1 options:the price of the good responds slightly to a quantity change. the demand curve shifts very little when a demand shifter changes. the percentage change in quantity demanded is relatively small in response to a relatively large percentage change in price. all of the above are true. Question 2 (10 points)If the absolute value of price elasticity is greater than 1, this means the demand curve in that region is:Question 2 options:price elastic. price inelastic. unit price elastic. upward sloping.