True or False: Given the demand curve for EpiPens, you should tell Mylan CEO that total revenue will decrease if she raises the price of EpiPens because the demand curve in this region is relatively inelastic.

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13-07-2022
Business

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True or False: Given the demand curve for EpiPens, you should tell Mylan CEO that total revenue will decrease if she raises the price of EpiPens because the demand curve in this region is relatively inelastic.

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okpalawalter8 okpalawalter8 · Answer 1 · 2022-07-18T18:50:21+02:00

"Given the demand curve for EpiPens, you should tell Mylan CEO that total revenue will decrease if she raises the price of EpiPens because the demand curve in this region is relatively inelastic." this is False. Option B. This is further explained below.

What is the demand curve?

Generally, a graphical representation of the relationship between the price of a product or service and its quantity demanded.

In conclusion, Given the shape of the EpiPen demand curve in this area, the statement that "total income would decline if she increases the price of EpiPens" is false.