For which of the following products is the consumer's demand curve most likely to be vertical?
A)Lobster, for a seafood lover.
B)Cars, for high school students.
C)Insulin, for a diabetic.
D)Compact disks, for a music lover.
E)Beef, for a food lover.

Question

For which of the following products is the consumer's demand curve most likely to be vertical?​
A)Lobster, for a seafood lover.
B)Cars, for high school students.
C)Insulin, for a diabetic.
D)Compact disks, for a music lover.
E)Beef, for a food lover.

Quizplus · Accepted Answer

Insulin is a necessity for diabetics to maintain their health and survival, and their demand is not affected by changes in price. Therefore, the demand curve for insulin is likely to be vertical. The other products listed are not necessities and consumers' demand for them is likely to be affected by changes in price, making their demand curves downward sloping.

For Which of the Following Products Is the Consumer's Demand