Which of the following would be most inelastic with regard to price?
A)a Samsung LCD television
B)a Sony LCD television
C)all LCD televisions
D)Demand for all of the above would be equally elastic because none are necessities.

Question

Which of the following would be most inelastic with regard to price?
A)​a Samsung LCD television
B)​a Sony LCD television
C)​all LCD televisions
D)​Demand for all of the above would be equally elastic because none are necessities.

Quizplus · Accepted Answer

The demand for all LCD televisions would be most inelastic because they are typically considered luxury goods rather than necessities. As a result, consumers are less likely to be affected by changes in price and are more willing to pay a higher price for the product. Additionally, there are likely limited substitutes for LCD televisions, further contributing to their inelasticity.

Which of the Following Would Be Most Inelastic with Regard