If consumers start to believe they need a product, what is likely to happe A. The demand becomes less elastic. B. The demand bec

Question

Stella [2.4K]

3 years ago

8

If consumers start to believe they need a product, what is likely to happe A. The demand becomes less elastic. B. The demand bec

omes more elastic. C. The supply decreases. D. The price decreases.

Business

2 answers:

denis-greek [22] · Answer 1 · 2022-06-06T18:19:50+03:00

denis-greek [22]3 years ago

8 0

Answer:

c

Explanation:

taurus [48] · Answer 2 · 2022-06-06T17:14:00+03:00

Answer:

The demand becomes less elastic.

Explanation:

The elasticity of demand, or demand elasticity, refers to how sensitive demand for a good is compared to changes in other economic factors like price or income. ... An elastic product is defined as one where a change in the price of the product leads to a significant change in the demand for that product. Elasticity is an important economic measure, particularly for sellers of goods or services, because the reflects how much of a good or service buyers will consume when the price increases or decreases. Products or services that are elastic are either unnecessary or can be easily replaced with a substitute.