If the demand for a life saving drug were perfectly inelastic and the price doubled the quantity demanded would?
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Expert's answer
2016-10-07T10:59:03-0400
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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