Multiple Choice
Demand for a given good is inelastic, so it follows that if price rises, __________ will rise, too.
A) quantity demanded
B) total revenue
C) total cost
D) income
E) supply
Correct Answer:

Verified
Correct Answer:
Verified
Q71: The quantity supplied of land is constant
Q72: Price elasticity of supply is perfectly inelastic
Q73: Price elasticity of supply measures the responsiveness
Q74: As the price of a product rises
Q75: Which of the following statements is true?<br>A)When
Q77: Exhibit 19-6<br><br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 19-6
Q78: If total revenue falls as a result
Q79: Income elasticity of demand measures the responsiveness
Q80: Exhibit 19-3<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 19-3
Q81: If the percentage change in quantity demanded