Asked by Gavin VandenTop on May 29, 2024
Verified
By focusing the customers on the price of a product,you make the demand for the product
A) More elastic
B) Less elastic
C) Perfectly inelastic
D) None of the above
More Elastic
Refers to a greater responsiveness of demand or supply to changes in price.
Price Sensitive
Refers to consumers' responsiveness or reaction to changes in the price of goods or services.
- Recognize the influence of advertising endeavors on the malleability of product demand.
Verified Answer
ZK
Zybrea KnightJun 05, 2024
Final Answer :
A
Explanation :
By emphasizing the price of a product, customers become more sensitive to the price changes and compare it with the prices of similar products available in the market. This leads to an increase in the elasticity of demand for the product, as customers may switch to substitutes if the price of the product increases.
Learning Objectives
- Recognize the influence of advertising endeavors on the malleability of product demand.
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