Which of the following individuals is likely to have the most inelastic demand for air travel?
A) a person who is afraid to fly
B) a person who enjoys flying
C) a business traveler
D) a retired person

Question

Quizplus · Accepted Answer

Business travelers often have a very limited schedule and cannot change their plans easily, which makes their demand for air travel quite inelastic. They may be willing to pay a higher price to ensure they can make their appointments on time. A person who is afraid to fly (A) may avoid air travel altogether, so their demand would be more elastic. A person who enjoys flying (B) may be more flexible in their travel plans, and a retired person (D) may have more time and flexibility to plan their travel, making their demand more elastic as well.

Which of the Following Individuals Is Likely to Have the Most