In the real world, demand is not likely to be perfectly inelastic at every price because
A)no substitutes exist for some goods
B)some consumers will be unable to afford very high prices with given incomes
C)at low prices, consumers always want a lot
D)consumers are willing to pay any price for certain goods
E)the prices of certain goods don't change

Question

Quizplus · Accepted Answer

In reality, demand is not likely to be perfectly inelastic at every price because some consumers may not be able to afford very high prices with their given incomes. This means that as prices increase, demand will decrease for those consumers who are price sensitive.

In the Real World, Demand Is Not Likely to Be