Under Which of the Following Conditions Will an Increase in Demand

question 104

Multiple Choice

Under which of the following conditions will an increase in demand cause a relatively small increase in price?

• A)If the shift of the demand curve is relatively small, the gap between the new demand and the old supply will be relatively small.
• B)If there is highly elastic demand, consumers are very responsive to changes in price.
• C)If there is highly elastic supply, producers are very responsive to changes in price.
• D)all of the above

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People who can influence others' buying choices due to their expertise, status, relationship with the audience, or authoritative position.

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