rag2000ed rag2000ed

25-12-2022
Business

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If the demand curve for a life-saving medicine is perfectly inelastic, then a reduction in supply will cause the equilibrium price to:

A.
rise and the equilibrium quantity to fall.

B.
rise and the equilibrium quantity to rise.

C.
rise and the equilibrium quantity to fall.

D.
stay the same and the equilibrium quantity to fall.

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