Which of the Following IS NOT a Situation That Can

question 74

Multiple Choice

Which of the following IS NOT a situation that can cause customers to be less sensitive to price increases?

• A) When customers have few product choices.
• B) When products are highly differentiated.
• C) When the product is a real or a perceived necessity.
• D) When the total expenditure is high.
• E) When the product is considered to be "worth it".

---

Definitions:

Michael Cox

Likely refers to a notable figure; without specific context, it could point to an academic, author, or professional known by this name in a relevant field. For accurate identification, additional context is necessary.

Richard Alm

An economic journalist and author known for co-authoring publications on economic issues, notably with economist William A. "Sandy" Darity.

Consumption

The use of goods and services by households, which is a primary component of GDP.

Workers

Individuals engaged in any form of employment for compensation.