In the Short Run, Consumers Typically ____ to Price Changes

question 166

Multiple Choice

In the short run, consumers typically ____ to price changes (when compared to the long run) .

• A) are very responsive
• B) are more demand sensitive
• C) are less demand sensitive
• D) do not respond at all
• E) overreact

---

Definitions:

Cost Of Goods Manufactured

The total expense incurred to produce goods within a specified period, including materials, labor, and overhead.