What Does a Relatively Steep Demand Curve Mean

question 43

Multiple Choice

What does a relatively steep demand curve mean?

• A) quantity demand will adjust slightly to a price change
• B) quantity demand will adjust greatly to a price change
• C) quantity demand will not adjust to a price change
• D) the change in quantity demand will exactly equal a change in price

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Definitions:

Studying Economics

The academic pursuit of understanding how individuals, businesses, governments, and nations make choices on allocating resources to satisfy their desires and needs.

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An examination of the added benefits of an activity compared to the added costs incurred by that same activity.

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Portable electronic devices that allow users to make voice calls, send text messages, and access various digital services.