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High Price of Insulin https://www.npr.org/sections/health-shots/2018/09/01/641615877/insulins-high-cost-leads-to-lethal-rationing 1 Based on what you learned from the link above, is the price elasticity of demand for insulin relatively elastic,

High Price of Insulin https://www.npr.org/sections/health-shots/2018/09/01/641615877/insulins-high-cost-leads-to-lethal-rationing

1 Based on what you learned from the link above, is the price elasticity of demand for insulin relatively elastic, inelastic, or unitary? Why? Explain using the things that determine elasticity.

2 How do we know, based on the article, that insulin is not a "need" according to the economic definition (hint: a need has a price elasticity of demand = 0)?

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