The Less Sensitive Buyers Are to a Change in Price

question 340

Multiple Choice

The less sensitive buyers are to a change in price, the

• A) greater a change in price must be to induce a certain change in quantity demanded.
• B) smaller is the price elasticity of demand.
• C) greater the price elasticity of demand.
• D) closer the price elasticity of demand is to one.

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Definitions:

Measurable

Describes something that can be quantified or assessed using specific criteria or units of measure.

Feasibility Report

An analysis and evaluation of a proposed project to determine if it is technically, financially, and legally viable.

Venture Capitalists

Investors who provide capital to startup companies and small businesses with long-term growth potential in exchange for equity.

Informal Style

A writing or speaking style that is more relaxed, personal, and conversational, as opposed to formal.