According to what concept do consumers usually purchase more units at a low price than at a high price?
A) The price elasticity of demand
B) The law of demand
C) Prestige pricing
D) The "price shopper" theory

Question

Quizplus · Accepted Answer

The law of demand states that, all else being equal, as the price of a product decreases, the quantity demanded of it will usually increase, and vice versa. This concept explains why consumers typically buy more units at a lower price than at a higher price.

According to What Concept Do Consumers Usually Purchase More Units