If Consumer Purchases of a Good Are Not Very Sensitive

question 318

Multiple Choice

If consumer purchases of a good are not very sensitive to the price of the good, this is illustrated by a

• A) demand curve that is relatively flat (more horizontal).
• B) demand curve that is relatively steep (more vertical).
• C) supply curve that is relatively flat (more horizontal).
• D) supply curve that is relatively steep (more vertical).

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Definitions:

Self-esteem

The subjective evaluation or perception of one's own worth or value.

Self-discrepancy Theory

A psychological theory that explains how differences between individuals' actual, ideal, and ought selves can impact their emotional states.

Actual Self

The concept referring to how individuals see themselves currently.

Ought Selves

The representation of the attributes that someone believes they should possess, often influenced by societal, familial, and personal expectations.