Which of the following is most likely to feature inelastic demand with regard to price?
A)a Rooms To Go chair
B)an inflatable chair with the logo of the local football team
C)an old recliner
D)an authentic Queen Anne chair

Question

Quizplus · Accepted Answer

An authentic Queen Anne chair is likely to feature inelastic demand because it is a unique, high-end item that has a limited supply. Consumers who desire this type of chair are likely to be willing to pay a high price for it, regardless of small changes in price.

Which of the Following Is Most Likely to Feature Inelastic