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 $90 to $100,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
Q4: In surveying their alumni,State U's economics department
Q5: If income elasticity for a particular good
Q8: If most consumer goods and services are
Q13: Price elasticity of demand for transportation generally
Q27: The following graph depicts demand. <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3717/.jpg"
Q30: The demand for a good is inelastic
Q32: Suppose that a new drug has been
Q60: For OutBack Steakhouse,seating capacity is limited in
Q95: Lakeville is a small community that completely
Q129: Jeans in general have fewer close substitutes