Suppose Demand Is Perfectly Inelastic, and the Supply of the Good

question 41

Multiple Choice

Suppose demand is perfectly inelastic, and the supply of the good in question decreases. As a result,

• A)the equilibrium price increases, and the equilibrium quantity is unchanged.
• B)the equilibrium quantity decreases, and the equilibrium price is unchanged.
• C)the equilibrium quantity and the equilibrium price both are unchanged.
• D)buyers' total expenditure on the good is unchanged.

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Definitions:

Microtubules

Cylindrical structures that are part of the cytoskeleton in all eukaryotic cells, involved in cellular movement, shape, and division.

Nuclear Envelope

A double-membrane structure that encases the nucleus of eukaryotic cells, providing a barrier that separates the nuclear contents from the cytoplasm.

Early Prophase

The initial stage of cell division, specifically in mitosis, where chromosomes start to condense and become visible, the nuclear envelope begins to dissociate, and the mitotic spindle starts to form.

Accompanying Figure

A visual aid (such as a chart, graph, or image) that is provided alongside a piece of text to help explain or illustrate the content.