Why drug are inelastic in demand?

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1083686

2026-03-04 23:55

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Drugs are often inelastic in demand because they can be considered necessities for individuals with certain health conditions, leading them to prioritize purchasing them regardless of price changes. Additionally, the addictive nature of many drugs creates a dependence, making consumers less sensitive to price fluctuations. Furthermore, there may be limited substitutes available for specific medications, reinforcing the inelastic demand.

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