When demand curves shift to the left, buyers become less sensitive to price increases because they consume fewer of these goods.

Question

Quizplus · Accepted Answer

When demand curves shift to the left, it indicates a decrease in demand at all price levels, not a change in buyers' sensitivity to price increases. Price sensitivity is related to the price elasticity of demand, not the shift in the demand curve.

When Demand Curves Shift to the Left, Buyers Become Less