If the Demand for a Life-Saving Drug Was Perfectly Inelastic

question 13

Multiple Choice

If the demand for a life-saving drug was perfectly inelastic and the price doubled, what would happen to the quantity demanded?

• A)It would also double.
• B)It would decrease by 50%.
• C)It would be cut in half.
• D)It would remain constant.

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Definitions:

Stigma

A mark of disgrace associated with a particular circumstance, quality, or person that can lead to discrimination or social rejection.

Conscientiousness

A personality trait characterized by diligence, carefulness, thoroughness, self-discipline, and the desire to do a task well.

Responsible

Being accountable for something within one's power, control, or management.

Dependable

Reliable and trustworthy, consistently able to be counted on for support or performance.