The less responsive consumers are to a change in the price of a product, _____.
ID: 1193049 • Letter: T
Question
The less responsive consumers are to a change in the price of a product, _____.
a.
the more price-inelastic is the demand curve
b.
the more income-inelastic is the demand curve
c.
the more price-elastic is the supply curve
d.
the more price-elastic is the demand curve
e.
the more income-elastic is the supply curve
a.
the more price-inelastic is the demand curve
b.
the more income-inelastic is the demand curve
c.
the more price-elastic is the supply curve
d.
the more price-elastic is the demand curve
e.
the more income-elastic is the supply curve
Explanation / Answer
d. the more price-elastic is the demand curve
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