A product that is successfully advertised and has loyal buyers would have a low price-elasticity coefficient.

Name: A product that is successfully advertised and has loyal buyers would have a low price-elasticity coefficient.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A product with loyal buyers and successful advertising typically has a low price-elasticity coefficient because its demand does not change significantly with price changes; consumers are less sensitive to price increases.

A Product That Is Successfully Advertised and Has Loyal Buyers