Suppose That Demand Is Inelastic Within a Certain Price Range

question 170

Multiple Choice

Suppose that demand is inelastic within a certain price range.For that price range,

• A)an increase in price would increase total revenue because the decrease in quantity demanded is proportionately less than the increase in price.
• B)an increase in price would decrease total revenue because the decrease in quantity demanded is proportionately greater than the increase in price.
• C)a decrease in price would increase total revenue because the increase in quantity demanded is proportionately smaller than the decrease in price.
• D)a decrease in price would not affect total revenue.

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Definitions:

New Parents

are individuals who have recently become mothers or fathers, either through birth, adoption, or assuming a parenting role.

Weeks

Units of time that typically consist of seven consecutive days.

CNS

The central nervous system, comprising the brain and spinal cord, responsible for processing and transmitting neural signals in the body.

Peripheral Nervous System

The part of the nervous system that consists of the nerves and ganglia outside of the brain and spinal cord, responsible for conveying information to and from the central nervous system.