Marketers of products and services associated with the wedding industry know that customers often do not care what the price is.They just want the wedding to be perfect.For these customers,demand is likely to be
A) cross-price elastic.
B) derived demand elastic.
C) price elastic.
D) status quo elastic.
E) price inelastic.

Question

Quizplus · Accepted Answer

Customers who prioritize having a perfect wedding are likely to have a strong emotional attachment to the event and be less sensitive to price changes. Therefore, demand is likely to be price inelastic, meaning changes in price will not have a significant impact on the quantity demanded.

Marketers of Products and Services Associated with the Wedding Industry