Solved UPSC CDS/OTA Question
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Q · Law of ElasticityMedium · 45s
Which among the following is an example of perfectly inelastic demand?
TopicLaw of Elasticity
Question Typemultiple choice
DifficultyMedium
Marking+1 / −0.33
Test Duration30 min
Step-by-Step Solution
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Life-saving drugs are classic examples; demand remains constant regardless of price.
Final Answer: Option B — Insulin for diabetic patients