Suppose a Decrease in the Supply of Bottled Water Results

question 102

Multiple Choice

Suppose a decrease in the supply of bottled water results in a decrease in revenue.This indicates that

• A)the demand for bottled water is inelastic in the price range considered.
• B)the demand for bottled water is elastic in the price range considered.
• C)the supply of bottled water is inelastic in the price range considered.
• D)the supply of bottled water is elastic in the price range considered.

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Definitions:

Subject-Verb Agreement

The grammatical rule that the verb in a sentence must agree in number with the subject (singular or plural).

Trees

Perennial plants with an elongated stem, or trunk, supporting branches and leaves in most species.

Raincoat

A waterproof jacket designed to keep the body dry from rain.

Members

Individuals belonging to a group, organization, or a specific category of people.