If the Price of Apples Increases, Total Expenditures on Apples

question 31

Multiple Choice

If the price of apples increases, total expenditures on apples will decline if

• A) the demand for apples is inelastic.
• B) the demand for apples is elastic.
• C) the quantity of apples purchased is unresponsive to changes in price.
• D) there are few good substitutes for apples.

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Definitions:

Consumer Journey Map

A visual representation of all the touchpoints a consumer comes into contact with before, during, and after a purchase.

Visual Representation

The use of images, diagrams, or animations to convey information or ideas to an audience.

Consumer Touchpoints

Points of interaction between a consumer and a product, brand, or company throughout the buying and usage process.

Purchase Decision Process

The sequence of steps consumers go through, from recognizing a need, evaluating alternatives, to making the purchase decision and post-purchase evaluation.