If the Demand Curve Is Inelastic Then an Increase in Price

question 70

Multiple Choice

If the demand curve is inelastic then an increase in price would cause:

• A) an increase in total revenue.
• B) a decrease in total revenue.
• C) an increase or decrease in total revenue.
• D) no change in total revenue.

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Definitions:

Psychoactive Drug

A chemical substance that changes brain function and results in alterations in perception, mood, consciousness, cognition, or behavior.

Individual's Expectations

The beliefs or assumptions about the future events or actions held by an individual.

Drug Addict

An individual who has developed a psychological and/or physical dependence on illegal or prescription drugs.

Withdrawal

The physical and/or emotional symptoms experienced when a person stops using a substance on which they have become dependent.