When Demand Is Price Inelastic

question 84

Multiple Choice

When demand is price inelastic,

• A) price and total revenue move in the same direction.
• B) price and total revenue move in the opposite direction.
• C) total revenue increases whether price goes up or down.
• D) total revenue decreases whether price goes up or down.

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Definitions:

Bombing Raids

Military attacks that deploy aircraft to drop bombs over enemy territory, often targeting military installations, industrial sites, or civilian areas.

Food Rationing

The controlled distribution of scarce resources, goods, or services, often implemented during shortages, war, or famine to ensure equitable distribution.

Morally Ambiguous

Pertaining to characters or situations that are not clearly delineated as right or wrong, challenging traditional moral perceptions.

Film Noir

Literally, “black film”; a French term for American films from the 1940s and 1950s that share certain “dark” characteristics, such as a sordid urban atmosphere, low-key lighting, night-for-night shooting, shady characters, and labyrinthine plots dealing with violent crime.