When Demand Is Inelastic

question 29

Multiple Choice

When demand is inelastic,

• A) quantity sold does not increase when price decreases.
• B) selling one more unit of output causes marginal revenue to increase.
• C) selling one more unit of output cause total revenue to increase.
• D) Buyers are not very responsive to changes in the price of the product.
• E) The percentage change in quantity demanded will exceed the percentage change in price (in absolute value).

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Definitions:

Mucous Membrane

A layer of epithelial tissue that lines various cavities of the body and secretes mucus, which is protective and lubricating.

Cutaneous Membrane

The cutaneous membrane refers to the skin, the body's outer covering that protects internal organs and structures.

Inhibiting Release

The process of preventing the secretion or expression of a substance, often referring to hormones or neurotransmitters.