Refer to the information provided in Figure 13.1 below to answer the question that follows. Figure 13.1
-Refer to Figure 13.1. The demand curve for insulin is most likely represented by
A) Panel A.
B) Panel B.
C) Panel C.
D) Panel D.

Question

Refer to the information provided in Figure 13.1 below to answer the question that follows.  Figure 13.1
-Refer to Figure 13.1. The demand curve for insulin is most likely represented by
A) Panel A. 
B) Panel B. 
C) Panel C. 
D) Panel D.

Quizplus · Accepted Answer

Panel C is most likely to represent the demand curve for insulin because insulin is a necessity for people with diabetes, and its demand is relatively inelastic. This means that changes in price have a smaller effect on the quantity demanded, which is depicted by the steeper demand curve in Panel C.

Refer to the Information Provided in Figure 13