Question

Barry customizes Harley-Davidson motorcycles. No two cycles are alike. Customers purchase these motorcycles for the status associated with them, regardless of the price. These customized motorcycles are considered _____ products.

Answer 1

Price inelastic

Step-by-step explanation:

Price inelasticity can be defined as the degree to which the demand of a good is affected when the price of the good increases.

Simply put, the increased demand for a good while not considering the price of the good.

In the above question, customers are requesting for the custom bikes irrespective of the price of the motorcycle. This means that whether or not the price of the bikes increase, the customers will still buy it.

Cheers.