jasirwrightthomas jasirwrightthomas

07-06-2024
Business

Answered

If consumers start to believe they need a product, what is likely to happen?
A. The demand becomes less elastic.
B. The demand becomes more elastic.
C. The supply decreases.
D. The price decreases.
Please select the best answer from the choices provided
OA
OB
ос
OD

Answer :

GinnyAnswer GinnyAnswer

07-06-2024

Final answer:

When consumers believe they need a product, the demand becomes less elastic, showing a less responsive change in quantity demanded with price fluctuations.

Explanation:

When consumers start to believe they need a product, the demand becomes less elastic. This means that even with price increases, the quantity demanded does not decrease proportionally. Essentially, consumer willingness to pay more for the product despite price increases leads to a less elastic demand curve.

Learn more about Elasticity of Demand here:

https://brainly.com/question/37206723

Answer Link

Other Questions

The table shows the time a patient spends at the dentist and the amount of the bill.Bill Amount for Time Spent at the Dentist\begin{tabular}{|c|c|}\hline \begin

Would you classify Wal-Mart as a price-setter orprice-taker?"

Where was the Great Depression felt?A. North and South America B. All of the above C. United States D. North America

In a survey, 250 adults and children were asked whether they know how to swim. The survey data are shown in the relative frequency table.\begin{tabular}{|c|c|c|

Why do we need instance level downtime to move system database files to a different disk volume?

Select the correct answer.Which expression is equivalent to the given polynomial expression?[tex]\[ \left(9mn - 19m^4n\right) - \left(8m^2 + 12m^4n + 9mn\right)

2Select the correct answer from the drop-down menu.How does the author introduce her point in paragraph 3?The author introduces her point in paragraph 3 byexpla

[tex]\[\log_{a} 2 \approx 0.301 \text{ and } \log_{a} 3 \approx 0.477.\][/tex] Use one or both of these values to evaluate [tex]\(\log_{a} 8\)[/tex].[tex]\[ \lo

Which numbers are the means of the proportion shown below?[tex]\[ \frac{2}{3}=\frac{20}{30} \][/tex]A. 3 and 30 B. 3 and 20 C. 2 and 20 D. 2 and 30

Mary deposited R25 000 into a savings account with an interest rate of 18% p.a.,compounded monthly. Mary withdrew R8 000 from the account 2 years afterdepositin

A circle has its center at the center of a square with 12-inch sides. Using 3.14 for pi, find the area of the square not covered by the circle, then write a rat

11 is what percent of 97?

Why did the U.S annex Hawaii?

In a standard pack of cards there are 52 cards. The deck is made up of 4 suits of 13 cards each; red hearts, red diamonds, black clubs, and black spades. Each s

Can someone please explain each step in solving this?

Describe how physical property, such mass or texture, can change without causing a change in the substance?

A man travels from Town X to Town Y at an average rate of 60 mph and returns at an average rate of 50 mph. He takes a 1/2 hour longer than he would take if he m

A coffee shop mixes Brazilian coffee worth $5 per kilogram with Turkish coffee worth $8 per kilogram. The mixture is to sell for $7 per kilogram. How much of th

Explain why ther are few volcanoes in the himalayas

Which minerals are found in the igneous rocks gabbro and basalt?