When consumer demandis sensitive to price changes,_____ occurs.
A)inelastic demand
B)sales maximization
C)elastic demand
D)profit maximization

Question

When consumer demandis sensitive to price changes,_____ occurs.​
A)inelastic demand
B)​sales maximization
C)​elastic demand
D)profit maximization

Quizplus · Accepted Answer

Elastic demand occurs when consumer demand is sensitive to price changes, meaning that a small change in price leads to a significant change in demand. This can impact a company's pricing strategies and ability to maximize revenue.

When Consumer Demandis Sensitive to Price Changes,_____ Occurs.​

When Consumer Demandis Sensitive to Price Changes,_____ Occurs.