Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
No, the demand for insulin is not perfectly inelastic.
Caffeine from coffees and teas. The caffeine is an inelastic supply because there arent many substitutes for caffeine. --Wayne Also products like salt and pepper are inelastic because people can consume only so much of them. --Danny R.
difference between elastic and inelastic demand
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
elastic
What is inelastic demand
Inelastic Demand & Elastic Demand
The demand for insulin is considered inelastic, meaning that changes in price do not significantly affect the quantity demanded.
inelastic demand
it is perfectly inelastic
for elasticity less than one the demand will be inelastic, i.e there will be very less effect of price on the demand.It will be relative inelastic or inelastic.