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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.
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
