In general,the more of an individual's total budget that is spent on a given product,the
A)greater the supply-side response
B)less elastic is the demand for that good
C)more elastic is the demand for that good
D)more the demand curve will shift when the price changes
E)less the demand curve will shift when the price changes

Question

Quizplus · Accepted Answer

When a larger portion of an individual's budget is spent on a product, the demand for that product tends to be more elastic because consumers are more sensitive to price changes.

In General,the More of an Individual's Total Budget That Is