If the Quantity Demanded Is Not Very Responsive to a Price

question 60

Multiple Choice

If the quantity demanded is not very responsive to a price change, then the demand curve would be:

• A) unit elastic.
• B) elastic.
• C) inelastic.
• D) vertical.

---

Definitions:

Societal Benefit

Advantages offered by a product, service, or organization that positively impact communities or society at large, not just individual consumers.

Perceptual Benefits

Advantages perceived by consumers, affecting their purchase decisions based on personal feelings or beliefs.

Legal Requirements

Legal requirements are the laws and regulations that individuals or entities must comply with in their personal, professional, or business activities.

Customer Value

The comparative worth that a customer assigns to a product or service over potential substitutes.