Which of the Following Factors Causes a Demand Curve Tobecome

question 59

Multiple Choice

Which of the following factors causes a demand curve tobecome more elastic over time?

• A)New substitutes for the product are discovered.(True Answer )Correct
• B)New and important uses for the product are discovered.
• C)More producers begin to produce the product.
• D)More consumers acquire a desire for the product.

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Definitions:

Collaborative Approach

A collaborative approach involves working together with one or more parties to achieve common goals or solve a problem.

Persuasion

The process of convincing someone to do or believe something through reasoning or the use of symbols.

Nonspecific Compensation

A term not widely recognized; could imply a form of compensation not tied to specific performance criteria or achievements.

Bridging

A conflict resolution technique that involves finding a new option or idea that all parties can agree with, thereby bridging their differences.