Suppose That Demand Is Inelastic Within a Certain Price Range

question 170

Multiple Choice

Suppose that demand is inelastic within a certain price range.For that price range,

• A)an increase in price would increase total revenue because the decrease in quantity demanded is proportionately less than the increase in price.
• B)an increase in price would decrease total revenue because the decrease in quantity demanded is proportionately greater than the increase in price.
• C)a decrease in price would increase total revenue because the increase in quantity demanded is proportionately smaller than the decrease in price.
• D)a decrease in price would not affect total revenue.

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Definitions:

Conflict Perspective

A sociological approach that views social and economic institutions as tools of the struggle between groups or classes, used to maintain inequality and the dominance of the ruling class.

Structural-functionalism

An approach within sociology that considers society to be a complicated system with various parts working in harmony to ensure stability and cohesion.

African Americans

Individuals in the United States with ancestry from the black racial groups of Africa.

Feminists

Advocates or supporters of the rights and equality of women in political, economic, and social spheres.