Technological advances that allow a good to be produced at a lower cost will shift the demand curve rightward

According to your textbook, markets tend to "clear" due to

A) the use of threat and coercion. B) the competitive bidding process. C) the intervention of expert economists. D) a well-managed national economic plan.

Higher price elasticity of demand means that a consumer's demand is:

A) more responsive to price changes. B) less responsive to price changes. C) less responsive to income changes. D) more responsive to income changes.