The demand for goods such as telephone service and medical care tend to be
A)perfectly elastic.
B)relatively elastic.
C)unit elastic.
D)relatively inelastic.

Question

Quizplus · Accepted Answer

The demand for goods such as telephone service and medical care tends to be relatively inelastic because they are considered as necessities for many people despite the changes in prices. Therefore, the changes in prices are unlikely to significantly affect the quantity demanded by consumers.

The Demand for Goods Such as Telephone Service and Medical