Many People Rely on a Prescription Drug to Control Their

question 90

Multiple Choice

Many people rely on a prescription drug to control their cholesterol. An increase in the price of the drug would have little effect on the quantity demanded because there are no substitutes for the drug and because people who take it have no choice but to continue taking it if they wish to stay healthy. The demand for the cholesterol drug is ________.

• A) elastic
• B) inelastic
• C) cross-elastic
• D) supply-driven
• E) asymmetrical

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