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milk powder, almond milk, goatâs milk and water meaning demand for milk is elastic but acco rding to the survey given, it showed that most of the people said that milk does not have any substitute goods. Therefore milk will then be. inelastic.
Relevance. Rating Newest Oldest. Best Answer: Inelastic demand implies that demand does not fall proportionately with price nor supply, therefore as price falls, demand increases but by a smaller proportion, therefore the number of units sold will only increase by a small amount, and the total revenue will fall.n the case of perfectly inelastic demand, i.e. demand does not change, the number of units sold will not change at all, so revenue will decrease by the same percentage that the price falls. Source(s): Degree in Economics.