With regard to price elasticity,if a product's price is low to the point where there is considerable value left for the customer (a good deal),an increase in price will:

Question

Quizplus · Accepted Answer

If a product's price is already considered a good deal, a small increase in price will not significantly impact customer demand. This means that the product has a low price elasticity, and demand will remain relatively stable even with a price increase. Thus, option B is the best choice as it states that the price increase will not have much impact.

With Regard to Price Elasticity,if a Product's Price Is Low