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Answer to Question #62493 in Macroeconomics for wendy

Question #62493
If the demand for a life saving drug were perfectly inelastic and the price doubled the quantity demanded would?
Expert's answer
The quantity of a good or service demanded at a given price level is affected by its price elasticity. A good or service that is highly elastic means the quantity demanded varies widely at different price points. Conversely, a good or service that is inelastic is one with a quantity demanded that remains relatively static at varying price points.
The quantity demanded would remain constant.

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