If the Demand Curve for a Life-Saving Medicine Is Perfectly

question 208

Multiple Choice

If the demand curve for a life-saving medicine is perfectly inelastic, a reduction in supply will cause the equilibrium price to:

• A)​rise and the equilibrium quantity to fall.
• B)​rise and the equilibrium quantity to stay the same.
• C)​rise and the equilibrium quantity to rise.
• D)​stay the same and the equilibrium quantity to fall.

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