For which one of the following is demand likely to be most inelastic?
A)diamonds
B)insulin for a diabetic
C)potatoes
D)gasoline
E)books

Question

Quizplus · Accepted Answer

Insulin for a diabetic is a necessity for survival, so the demand for insulin is likely to be the most inelastic. Even if the price increases, diabetics will still need to purchase insulin to maintain their health, leading to relatively little change in the quantity demanded.

For Which One of the Following Is Demand Likely to Be