Multiple Choice
Suppose demand is perfectly inelastic,and the supply of the good in question decreases.As a result,
A) the equilibrium quantity decreases,and the equilibrium price is unchanged.
B) the equilibrium price increases,and the equilibrium quantity is unchanged.
C) the equilibrium quantity and the equilibrium price both are unchanged.
D) buyers' total expenditure on the good is unchanged.
Correct Answer:
Verified
Correct Answer:
Verified
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