The Pure Drug Company produces insulin, a product with a very stable demand, even though the price has changed several times in the past two years. Insulin is a product with ________ demand.
A) joint
B) service
C) inelastic
D) elastic
E) fluctuating

Question

Quizplus · Accepted Answer

Insulin has a very stable demand which means that it is inelastic, meaning that changes in price have a relatively small effect on the quantity demanded.

The Pure Drug Company Produces Insulin, a Product with a Very