In which of the following situations would a good NOT have a relatively inelastic demand?
A) You can search for the best price for a good.
B) You are shopping at the last minute.
C) The price of the good is very low.
D) The good is a necessity.

Question

Quizplus · Accepted Answer

Goods with relatively inelastic demand are those for which consumers' purchase quantities do not change much with price changes. The ability to search for the best price implies that consumers are price-sensitive, suggesting the demand for the good is more elastic, not inelastic.

In Which of the Following Situations Would a Good NOT