Asked by Horacio Nicolas on Jul 09, 2024
Verified
Advertisers go to great lengths to build brand loyalty because
A) it makes their product more elastic.
B) it makes their product more inelastic.
C) it shifts its supply curve to the right.
D) it shifts its demand curve to the left.
Brand Loyalty
The tendency of consumers to continuously purchase products from the same brand due to satisfaction, preference, or perceived superiority.
Elastic
A description of a situation where the demand or supply for a good or service significantly changes in response to a change in price.
Inelastic
Describes a situation where the demand or supply for a product does not change significantly when the price of the product changes.
- Explain the role of advertising in influencing demand elasticity
Verified Answer
Learning Objectives
- Explain the role of advertising in influencing demand elasticity
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