Multiple Choice
Suppose that a new drug has been approved to treat a life-threatening disease.Demand for that drug is shown on the graph below.Prior to approval of this drug,the only treatment for this condition was non-prescription pain relief.Demand for one brand of non-prescription pain reliever is also shown on the graph below.
Refer to the figure above.If the manufacturer of the new drug chose to increase its price from $30 to $40,consumers would acquire ______ doses,and have _____ total expenditures.
A) more;higher
B) fewer;lower
C) more;lower
D) fewer;higher
Correct Answer:

Verified
Correct Answer:
Verified
Q9: Suppose you believe that plaid flannel shirts
Q16: If the demand for a good is
Q22: You read online that,at current rates of
Q51: If the price is $2.00 in both
Q52: If the price elasticity of demand for
Q69: During recessions,when some workers lose their jobs
Q74: If the price elasticity of demand for
Q110: If the price of plane tickets increased,more
Q116: If a product has lots of substitutes:<br>A)its
Q121: When Joe's Gas raises its prices for