If a consumer has more time to search for a low-cost alternative for an item, the demand curve for that item will be:
A)relatively more elastic.
B)relatively more inelastic.
C)relatively steep.
D)equal to zero.

Question

Quizplus · Accepted Answer

When a consumer has more time to search for a low-cost alternative, they are likely to be more sensitive to price changes and may spend more time comparing prices. This leads to a relatively more elastic demand curve, where even slight changes in price can cause a significant change in quantity demanded.

If a Consumer Has More Time to Search for a Low-Cost