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17 May, 21:23

Which of the following is the best example of a good that has inelastic demand?

a. boat

b. salt

c. movie ticket

d. diamond

+4
Answers (2)
  1. 17 May, 21:42
    0
    The correct answer for this question is this one: "b. salt." The best example of a good that has inelastic demand is the salt. Inelastic demand refers to demand whose percentage change is less than a percentage change in price. Take for example, the price of a commodity rises twenty-five percent and demand decreases by only two percent, demand is said to be inelastic.
  2. 17 May, 21:52
    0
    The answer would be B).
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