Why is the demand in business-to-business markets mostly inelastic?
What will be an ideal response?
The demand in business-to-business markets is mostly inelastic because what is being sold is often just one of the many parts or materials that go into producing the consumer product. It is not unusual for a large increase in a business product's price to have little effect on the final consumer product's price.
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If you wish to construct a graph of a relative frequency distribution, you would most likely construct an ogive
Indicate whether the statement is true or false
If each motorcycle requires a fan belt that costs $20 and 2,000 motorcycles are produced in the month, the total cost for the fan belts is:
A) considered to be a fixed cost. B) considered to be a direct variable cost. C) considered to be an indirect fixed cost. D) considered to be an indirect variable cost. E) none of these are true.