Which of the following products comes closest to having a perfectly inelastic demand?
A)gasoline
B)cholesterol medication in general
C)iPhones
D)bus rides

Question

Quizplus · Accepted Answer

Cholesterol medication in general is a product that comes closest to having a perfectly inelastic demand. This is because people who need cholesterol medication will continue to buy it regardless of the price, as it is essential for their health.

Which of the Following Products Comes Closest to Having a Perfectly