The less responsive consumers are to a change in the price of a product:
A)the more price-elastic is the supply curve.
B)the more income-elastic is the demand curve.
C)the more price-inelastic is the demand curve.
D)the more income-elastic is the supply curve.
E)the more price-elastic is the demand curve.

Question

Quizplus · Accepted Answer

When consumers are less responsive to a change in the price of a product, it means that the quantity demanded does not change much in response to the change in price. This indicates that the demand curve is price inelastic.

The Less Responsive Consumers Are to a Change in the Price