Asked by Manal Al-Hashmi on Jul 09, 2024
Verified
Which statement is true?
A) Over time demand tends to become less elastic.
B) The demand for cigarettes is very elastic.
C) Advertisers try to make the demand for their products less elastic.
D) None of these statements are true.
Advertisers
Entities or individuals that promote their products, services, or brands through various forms of media to attract potential customers.
Demand
The quantity of a product or service that consumers are willing and able to purchase at various prices during a specified period of time.
Less Elastic
Describes a situation in which the demand or supply for a good or service is less responsive to changes in price.
- Understand the importance of substitute availability on demand elasticity.
Verified Answer
Learning Objectives
- Understand the importance of substitute availability on demand elasticity.
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