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:

Hostility

Feelings of anger, aggression, and resentment that may result in confrontational behavior.

Coronary Disease

A heart condition characterized by the narrowing of the coronary arteries due to the buildup of plaque, leading to a decrease in blood flow to the heart muscle and potential heart attack.

High Blood Pressure

A medical condition where the force of the blood against artery walls is too high, often leading to health problems like heart disease.

Diabetes

A chronic health condition that affects how the body turns food into energy, involving issues with insulin production or use, leading to high blood sugar levels.