The most common way of saying “You’re welcome,” is “どういたしまして.” This is a polite form
that can be used with friends, colleagues, senior colleagues, supervisors and those significantly
older than you. And you would use it in situations where you feel comfortable being thanked.
In other words, if you thought your actions deserved an expression of appreciation and a
mention. If someone thanks you for giving her a gift, or answering her question, you could say
“どういたしまして,” because it’s pretty natural for you to be thanked for gestures like that.
But if you think your actions did not deserve to be thanked or mentioned, you might want to say
a phrase that means “Don’t mention it.” In Japanese, there is a casual and a formal way of saying
this. In a casual situation, you would use “いいえ、いいえ” which is literally translated as “No, no” to mean
“It’s no big deal.” For example, when someone thanks you for giving up your seat in the train or
picking up something that they dropped, saying “いいえいいえ” conveys the feeling that you thought it
was only natural for you to give up your seat (or pick up the object) and so you deserve no credit
for it. But again, this would be used in response to casual gestures and situations. Most likely in
such situations, they’ll thank you in a casual form as well, like “どうもありがとう.”
Finally, If the person is older than the person who thanked him or her, the older person would respond "はい" meaning as "don't mention" or "it's okay". (Like a teenager thanked an elder lady. The elder lady would say "はい はい" in meaning of "don't mention" or "you are always welcome, kid".)
If you are younger than the person who thank you, then はいはい would be an impolite response.