Which of the Following Is Most Likely to Feature Inelastic

question 47

Multiple Choice

Which of the following is most likely to feature inelastic demand with regard to price?

• A)a Rooms To Go chair
• B)an inflatable chair with the logo of the local football team
• C)an old recliner
• D)an authentic Queen Anne chair

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Definitions:

Marketing Costs

Expenses related to promoting, selling, and distributing a product or service, including advertising, sales force salaries, and promotional materials.

Marketplace

An open area or platform where goods and services are exchanged between buyers and sellers, including physical locations and online platforms.

Long Time

An extended period or duration, often used in the context of something that takes a considerable length of time to finish or endure.

Customer Needs

The requirements and desires of purchasers that motivate them to buy products or services.