Many people rely on the prescription drug Lipitor to control their cholesterol.An increase in the price of the drug would have little effect on the quantity demanded because there are no substitutes for the drug and because people who are taking it have no choice but to continue taking it if they wish to stay healthy.The demand for Lipitor is ________.
A) synergistic
B) elastic
C) supply-driven
D) inelastic
E) flexible
Correct Answer:
Verified
Q20: What is the first step an organisation
Q21: Demand would likely be inelastic for _.
A)laundry
Q22: Which of the following would be an
Q23: Demand is generally income inelastic for _.
A)necessities
Q24: The break-even point is the point at
Q26: When demand is inelastic,_.
A)the demand curve is
Q27: When demand is _,increases in price result
Q28: When demand is inelastic,_.
A)demand decreases during recessions
B)changes
Q29: What is cross-elasticity of demand? Describe a
Q30: _ are costs that do not vary
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