For the Price Elasticity of Demand (PED) for a particular good if the % change in Quantity demanded < % change in Price....this means Group of answer choices PED is Elastic.... Consumers are Insensitive to Price Changes PED is Inelastic.... Consumers are sensitive to Price Changes PED is Unit elastic.... Consumers are proportionately responsive to Price Changes PED is Inelastic.... Consumers are Insensitive to Price Changes