For deal-prone consumers, a price increase of a particular brand of a product will tend to result in
A) an elastic demand curve
B) an inelastic demand curve
C) a unitary demand curve
D) either a or b

Question

Quizplus · Accepted Answer

For deal-prone consumers, a price increase of a particular brand of a product will tend to result in an elastic demand curve since the consumer is sensitive to deals, including the cost of the product and will shift their purchase behavior.

For Deal-Prone Consumers, a Price Increase of a Particular Brand