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67. Which of the following statements about price elasticity of demand is TRUE? A) Inelastic demand is of more concern to budget motels and fast-food

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67. Which of the following statements about price elasticity of demand is TRUE? A) Inelastic demand is of more concern to budget motels and fast-food operations than to resorts and luxury hotels. B) A price change followed by no significant change in demand is called elastic demand. C) A small price change followed by large changes in demand is called elastic demand. D) Elastic demand is of more concern to luxury hotels and resorts than to budget motels and fast-food operations

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