What occurs when consumers are sensitive to price changes?
A)inelastic demand
B)elastic demand
C)inelastic supply
D)elastic supply

Name: What occurs when consumers are sensitive to price changes? A)inelastic demand B)elastic demand C)inelastic supply D)elastic supply
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Question

Quizplus · Accepted Answer

When consumers are sensitive to price changes, it means that a small change in price leads to a significant change in the quantity demanded, which is characteristic of elastic demand.

What Occurs When Consumers Are Sensitive to Price Changes