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

Name: Which of the following products comes closest to having a perfectly inelastic demand? A) petrol B) cholesterol medication in general C) iPhones D) bus rides
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Cholesterol medication in general is a necessity for those who need it, and there are typically no close substitutes, making its demand relatively inelastic.

Which of the Following Products Comes Closest to Having a Perfectly