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Loraine Loraine
wrote...
Posts: 4563
8 years ago
If the demand for insulin is inelastic, an increase in insulin prices leads to
A) less total revenue for insulin makers.
B) more total revenue for insulin makers.
C) no change in total revenue for insulin makers.
D) first a decrease, then an increase in total revenue for insulin makers.
E) Total revenue probably changes, but we need more information about the change in total expenditures on insulin to determine if the total revenue rises, falls, or stays the same.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
Read 617 times
2 Replies
Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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SmooothSmoooth
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Posts: 5500
8 years ago
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8 years ago
No problemo Happy Dummy
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