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In the pharmaceutical industry where a diabetic must have insulin no matter what the cost, how is the diabetic's demand considered to be?

A - Perfectly elastic. B - Perfectly inelastic. C - Relatively elastic. D - Relatively inelastic

Accounting Auditing Peachtree
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تم إضافة السؤال من قبل محمد الباجوري , Senior ERP Consultant & ERP Project Manager , XERVON GmbH
تاريخ النشر: 2013/06/25
التصويت كمفيد (6) المشاهدات (17) المتابعون (3) الإجابات (9) بلّغ عن السؤال
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Jay Fresnido
من قبل Jay Fresnido , Total Rewards Analyst (Assistant Manager Level) , Al Futtaim Group

B.
Perfectly inelastic.
If demand for something is perfectly inelastic, then the quantity purchased won't change no matter what the price is.
The insulin for diabetics is said to be a necessity; therefore, demand won't change by price variations.

Saad Bin Asghar
من قبل Saad Bin Asghar , Accounts and Finance Manager , Eastern Biotech and Life Sciences

Perfectly Inelastic

مستخدم محذوف‎
من قبل مستخدم محذوف‎

Perfectly inelastic.

Kokab Rahman
من قبل Kokab Rahman , Managing Director, Head of Business Development , Radeya Business Services http://www.radeya.biz

B - Perfectly inelastic.

Sheharyar Khan, CFA
من قبل Sheharyar Khan, CFA , Investment and Financial Analyst , Bahri & Mazroei Trading Group

Perfectly inelastic

Atta Ullah
من قبل Atta Ullah , Assistant , Asad Fouad Chartered Accountants

B- perfectly inelastic

Neha Saxena
من قبل Neha Saxena , HR Executive Recruitment & Talent Acquisition , Reliance Communications Ltd

A situation that occurs when the overall consumer requirements for a particular good or service do not vary when its price changes.
So its PERECTLY INELASTIC

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