Multiple Choice
Suppose that a new drug has been approved to treat a life-threatening disease. The demand for that drug is shown on the graph below. Prior to approval of this drug, the only treatment for this condition was any one of several non-prescription, or over-the-counter, pain relievers. The demand for one brand of the several non-prescription pain relievers is also shown on the graph. 
The manufacturer of the over-the-counter pain reliever would _______ total revenue by increasing the price from $15 to $16.
A) increase
B) decrease
C) experience no change in
D) experience an uncertain change in
Correct Answer:
Verified
Correct Answer:
Verified
Q5: It takes many years to train to
Q43: If the cross-price elasticity of demand between
Q71: If a 10% decrease in the price
Q73: If the price of cheese falls by
Q74: Suppose that a new drug has been
Q78: Refer to the figure below. At P
Q81: Suppose that a new drug has been
Q105: If the price of textbooks increases by
Q108: Suppose an increase in the price of
Q131: If a demand curve is horizontal at