In the Short Run, Consumers Typically ____ to Price Changes

question 166

Multiple Choice

In the short run, consumers typically ____ to price changes (when compared to the long run) .

• A) are very responsive
• B) are more demand sensitive
• C) are less demand sensitive
• D) do not respond at all
• E) overreact

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Definitions:

Positive Energy

The feeling or attitude of optimism, vitality, and enthusiasm that can positively influence oneself and others.

Quick Rewards

Benefits or compensations received soon after completing a task or activity, often used to motivate and reinforce desired behaviors.

Valued Employees

Workers who are held in high esteem by their employers, often because of their contributions, skills, and attitudes.

Generation Y

Also known as Millennials, a demographic cohort following Generation X, typically considered to be born between the early 1980s and mid-1990s to early 2000s, known for their familiarity with digital technologies.