For which of the following products is the consumer's demand curve most likely to be vertical?
A)lobster, for a seafood lover.
B)cars, for high school students
C)insulin, for a diabetic
D)compact discs, for a music lover
E)beef, for a food lover

Question

Quizplus · Accepted Answer

Insulin is a life-saving medication for diabetics, so their demand for it is likely to be very high and not very responsive to changes in price. This would result in a vertically steep demand curve.

For Which of the Following Products Is the Consumer's Demand