The Proper Sequence of Consumer Responsiveness to Price Changes from Most

question 159

Multiple Choice

The proper sequence of consumer responsiveness to price changes from most to least is

• A) perfectly elastic,perfectly inelastic,inelastic,elastic.
• B) perfectly elastic,elastic,inelastic,perfectly inelastic.
• C) elastic,perfectly elastic,perfectly inelastic,inelastic.
• D) elastic,inelastic,perfectly elastic,perfectly inelastic.
• E) perfectly inelastic,inelastic,elastic,perfectly elastic.

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Definitions:

Innovation

The introduction of new ideas, goods, services, or practices that aim to improve processes, increase efficiency, or solve problems.

Diffusion

The spread of innovations, ideas, behaviors, or products from their place of origin to other cultures or societies.

Water-Soluble Material

Material that can dissolve in water, meaning it can become uniformly dispersed when mixed with water at a certain temperature.

Invention

The creation of a new product, process, or idea that did not exist before.