Which is an example of something that is inelastic?

Question 20 options:

a type of watch


a type of cancer medication


a type of car


a type of hamburger

Respuesta :

-Inelastic means that the consumers will still purchase the product at the same rate despite price changes.
-The answer would be cancer medication, because the consumer would still need to buy this regardless of price. Even if it puts them in a financial bind.
-When having your on a car or watch, if the price of that item increases, you could be less likely to buy it.
-When picking out a hamburger at a restaurant, the customer is most likely to by a cheaper burger if they are on a budget.