multiple choice question\nthe fact that consumers are not always able to adjust immediately to price changes…
multiple choice question\nthe fact that consumers are not always able to adjust immediately to price changes means that product demand is more ______ over time.\nelastic\nunit elastic\ncross inelastic\ninelastic
Answer
Brief Explanations:
In economics, when consumers can't adjust immediately to price - changes, over time they have more flexibility to change their consumption patterns. This makes demand more responsive to price changes, which is the characteristic of elastic demand. Elastic demand means that a change in price leads to a relatively larger change in quantity demanded.
Answer:
A. elastic