Consumers who are more sensitive to changes in price suffer a greater loss of consumer surplus from any given price increase
Indicate whether the statement is true or false
False . Consumers who are more sensitive to the price increase will reduce their purchase of the good by a greater extent than those who are not price sensitive. As a result, they incur a smaller loss of consumer surplus.
Economics
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In the United States during the period from 1870 to 1940, the price level was most likely to
a. fluctuate. b. increase. c. decrease. d. trend generally upward.
Economics
The crowding-out effect is more likely to dominate the crowding-in effect when investment is relatively
a. insensitive to interest rates and to GDP. b. insensitive to interest rates but sensitive to GDP. c. sensitive to interest rates and to GDP. d. sensitive to interest rates and insensitive to GDP.
Economics