The cost of sending a space shuttle into orbit is $4 billion. The total cost of the astronaut's salary is $300,000 per year. The demand curve for astronauts will most likely be

Question

Quizplus · Accepted Answer

The demand curve for astronauts is likely inelastic because the cost of sending a space shuttle into orbit is extremely high compared to the salary of an astronaut. This means that changes in the salary of astronauts (which is relatively small in comparison to the total cost) are unlikely to significantly affect the demand for astronauts.

The Cost of Sending a Space Shuttle into Orbit Is