Compared to the Long Run, Consumers Typically ____ to Price

question 124

Multiple Choice

Compared to the long run, consumers typically ____ to price changes in the short 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:

One-Parent Families

Household units consisting of a single parent living with their child or children, resulting from various circumstances such as divorce or death of a spouse.

Cohabitating

The act of living together and having a sexual relationship without being married.

Unmarried Women

Women who are not legally bound in marriage; also can refer to women who prioritize individual growth, career, or personal choices over matrimonial commitments.

Labor Force

The total number of people who are available to work, including those who are employed and those who are unemployed but seeking work.