Asked by Manal Al-Hashmi on Jul 09, 2024

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Which statement is true?

A) Over time demand tends to become less elastic.
B) The demand for cigarettes is very elastic.
C) Advertisers try to make the demand for their products less elastic.
D) None of these statements are true.

Advertisers

Entities or individuals that promote their products, services, or brands through various forms of media to attract potential customers.

Demand

The quantity of a product or service that consumers are willing and able to purchase at various prices during a specified period of time.

Less Elastic

Describes a situation in which the demand or supply for a good or service is less responsive to changes in price.

  • Understand the importance of substitute availability on demand elasticity.
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Verified Answer

CB
Chloe BuchananJul 09, 2024
Final Answer :
C
Explanation :
Advertisers aim to make the demand for their products less elastic by differentiating their products and creating brand loyalty. This makes consumers less sensitive to price changes, as they may prefer a specific brand over others regardless of price differences.