Which of the following statements describe an inelastic demand? A. Megan did not buy too many hockey tickets even though their price dropped by 10 percent. B. People are buying HDTVs before the Super Bowl game begins. C. Arise in the tax rate has decreased imports of auto parts from China. D. Housing prices in London rose by 10 percent due to rock bottom interest rates.

The statement that describes an inelastic demand is:<br /><br />A. Megan did not buy too many hockey tickets even though their price dropped by 10 percent.<br /><br />Inelastic demand refers to a situation where the quantity demanded of a good or service is relatively unresponsive to changes in price. In this case, Megan's behavior indicates that the demand for hockey tickets is inelastic, as the significant price drop did not result in a substantial increase in the quantity demanded.