If the Demand Curve for a Good Is Elastic, Consumers

question 151

True/False

If the demand curve for a good is elastic, consumers will spend more on that good when its price increases.
​

---

Definitions:

Development

The process of growth or progression, often referring to physical, cognitive, psychological, or social changes throughout the lifespan.

Prosocial Behavior

Voluntary actions that are intended to help or benefit another individual or group of individuals.

Temperamental Characteristic

Innate traits of an individual's personality, including mood, disposition, and adaptability, often evident from childhood.

Social Anxiety

A condition characterized by an intense fear of social situations and being judged or negatively evaluated by others.