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:

Sympathetic Neurons

Sympathetic neurons are part of the autonomic nervous system and responsible for the body's fight or flight response, regulating involuntary body functions like heart rate and blood flow.

Parasympathetic Neurons

Neurons that are a part of the parasympathetic nervous system, responsible for stimulating "rest-and-digest" or "feed and breed" activities in the body.

Sweat Glands

Specialized exocrine glands in the skin that produce sweat, helping in thermoregulation and excretion.

Neuron Cell Bodies

The part of a neuron that contains the nucleus and most of the cytoplasm and where the metabolic work of the cell is carried out.