What is the shape of a demand curve when consumers have a lot of time to adjust to price changes?A.HorizontalB.VerticalC.FlatD.Steep
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Solution 1
To determine the shape of a demand curve when consumers have a lot of time to adjust to price changes, we can analyze the effects of time on elasticity.
Analysis of Demand Curve Shape
- Understanding Elasticity: When consumers have more time to react to price changes, their demand becomes Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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