Which of the following is likely to have the most price inelastic demand?
A)yoga mats
B)prescription medicine
C)protein powder
D)gym memberships

Question

Quizplus · Accepted Answer

Prescription medicine is likely to have the most price inelastic demand as it is a necessity for some individuals and there are limited substitutes available. Consumers are willing to pay a higher price for their required medication and are less likely to reduce their demand for it even if the price increases.

Which of the Following Is Likely to Have the Most