Question

Assume that the demand for cosmetic or plastic surgery is price inelastic. Are the following statements true or false? Explain.
a. When the price of plastic surgery increases, the number of operations decreases.
b. The percentage change in the price of plastic surgery is less than the percentage change in quantity demanded.
c. Changes in the price of plastic surgery do not affect the number of operations.
d. Quantity demanded is quite responsive to changes in price.
e. If more plastic surgery is performed, expenditures on plastic surgery will decrease.
f. The marginal revenue of another operation is negative.



$1.99
Sales3
Views386
Comments0
  • CreatedNovember 18, 2014
  • Files Included
Post your question
5000