Which of the following is likely to have the most price inelastic demand?
A) laptop computers
B) iPod shuffles
C) designer jeans
D) college tuition for a junior or senior

Question

Quizplus · Accepted Answer

College tuition for junior or senior is likely to have the most price inelastic demand because it is a necessity for completing a degree and there are few substitutes available. Students and families will likely pay the higher price even if the cost increases.

Which of the Following Is Likely to Have the Most