Which of the following is most likely to be inelastic with respect to demand?
A) Illegal drugs.
B) Airline travel in the long run.
C) New cars.
D) HDTV sets.

Name: Which of the following is most likely to be inelastic with respect to demand? A) Illegal drugs. B) Airline travel in the long run. C) New cars. D) HDTV sets.
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Question

Quizplus · Accepted Answer

Illegal drugs are often addictive and have no close substitutes, making demand for them relatively insensitive to changes in price.

Which of the Following Is Most Likely to Be Inelastic