Answered

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Which of the following items have inelastic demand? (Remember: items that are "wants"
and/or have many substitutes tend to be elastic. Items that are "needs" and/or have few
substitutes tend to be inelastic.) Select all that apply.

Sagot :

Tundexi

The situation that have inelastic demand are:

  • Very costly goods
  • Very cheap goods

What is an inelastic demand?

This class of demand is one where the change in quantity demanded due to a change in price is very small.

Hence, when there is very costly goods or cheap good, the inelastic demand can happens

Therefore, the Option C is correct

Missing options " A. Very costly goods. B. Very cheap goods.C. Both A and B. "

Read more about inelastic demand

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