For Which of the Following Products Is the Consumer's Demand

question 102

Multiple Choice

For which of the following products is the consumer's demand curve most likely to be vertical?

• A)lobster, for a seafood lover
• B)cars, for high school students
• C)insulin, for a diabetic
• D)compact disks, for a music lover
• E)beef, for a food lover

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Definitions:

New-Category Entries

The introduction of products or services into previously unexplored or untapped market categories.

Product Line

A range of related products offered by a single company, designed to serve different customer needs or market segments.

Market Share

The segment of a market dominated by a specific company or product.

Goods

Tangible products that are produced, bought, or sold to satisfy the needs or desires of consumers.