As the number of elderly consumers in a market increases and the number of younger consumers declines, we would expect
A) an increase in the demand for medical services.
B) a decrease in the demand for medical services.
C) a decrease in the demand for blue jeans.
D) both a and c.

Question

Quizplus · Accepted Answer

An increase in elderly consumers typically leads to higher demand for medical services, while a decline in younger consumers may reduce demand for products like blue jeans.

As the Number of Elderly Consumers in a Market Increases