What is an influence of the durability of a good on its demand elasticity?

Durability of a good significantly impacts its demand elasticity, primarily because it affects consumer behavior regarding the timing and frequency of purchases. Durable goods, such as cars and appliances, are used over a long period. As a result, consumers tend to be less sensitive to price changes since they may not need to replace these goods frequently.

When a durable good's price increases, consumers are more likely to delay their purchases or choose to maintain their current item rather than buy a new one. This leads to demand for durable goods being less elastic, meaning that changes in price do not cause a proportionate change in quantity demanded.

In contrast, non-durable goods, which are consumed quickly or used up in a short time, often exhibit more elastic demand. Since consumers regularly need to replace these items, they are more responsive to price changes. Therefore, the characteristic of durability, which allows goods to last longer, essentially reduces the sensitivity of demand to price fluctuations, confirming that durability makes demand less elastic.