The demand for insulin will be _________________ than the demand for a Caribbean cruise in general.
A)More elastic
B)More inelastic
C)Less elastic
D)Less inelastic

Question

Quizplus · Accepted Answer

The demand for insulin is typically considered to be more inelastic because it is a necessity for those with diabetes and they will continue to demand insulin regardless of price changes. In contrast, the demand for a Caribbean cruise is more elastic because it is a luxury item and consumers may be more sensitive to price changes and may choose not to purchase the cruise.

The Demand for Insulin Will Be _________________ Than the Demand