Eventually the consumer won't pay beyond a certain range. However at the current range, its inelastic though its probably close to the maximum anyone is willing to pay.
Its inelastic when the price goes up or down with no change in demand, its probably still in the inelastic range.
Ram was probably underpriced, at 2012 levels, in relationship to demand, if the shelves are being cleared presently despite higher prices. I paid $60 for my 2x8 GB Hyper X kit December 2012 and its currently $160 now.
My theory is that consumers realize no value beyond 8 GB of ram, and $60 gets you a unit of [performance computer ram], $60 is how much the average budget builder allocates for their ram, therefore as long as 8 GB or greater is $60 they can get away with higher prices.
The same thing has happened with oil, rumors of shortage and several spills, production issues, etc raised the price at the pump from $2/gallon to $5/gallon, since then we have had plenty of oil available in the United States, and record recent domestic production of oil, but oil prices remain around $4.00/gallon. Consumers are willing to pay that much for oil, probably more.
Source on gas:
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS1&f=A
and
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?f=W&n=PET&s=EMM_EPMR_PTE_NUS_DPG