The ______ the demand curve,the _____ responsive is the amount demanded to price.

Question

Quizplus · Accepted Answer

According to the law of demand, as the price of a good or service increases, the quantity demanded decreases. The steepness of the demand curve is determined by how much the quantity demanded changes in response to a change in price. A steeper demand curve indicates that a small change in price results in a larger change in quantity demanded, meaning that the amount demanded is less responsive to price changes. Therefore, steeper demand curves are associated with less price responsiveness.

The ______ the Demand Curve,the _____ Responsive Is the Amount

The __ the Demand Curve,the _ Responsive Is the Amount