When Demand Is Inelastic,an Increase in Price Will Cause

question 142

Multiple Choice

When demand is inelastic,an increase in price will cause

• A)an increase in total revenue.
• B)a decrease in total revenue.
• C)no change in total revenue but an increase in quantity demanded.
• D)no change in total revenue but a decrease in quantity demanded.

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Definitions:

NSAIDs

Nonsteroidal anti-inflammatory drugs, a class of medications that reduce pain, decrease fever, prevent blood clots, and in higher doses, decrease inflammation.

Collarbone

A long, flat bone located horizontally across the upper part of the chest in humans and some animals, also known as the clavicle, serving as a strut between the shoulder blade and the sternum.

Sternum

A long flat bone located in the center of the chest, connecting the ribs together and providing support.

Scapula

A flat, triangular bone located in the upper back on each side of the body, commonly known as the shoulder blade.