The demand for plastic surgery is price inelastic

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Assume that the demand for plastic surgery is price inelastic. Are the following statements true or false? Explain your answer for full credit.

o When the price of plastic surgery increases, the number of operations decreases.

o The percentage change in the price of plastic surgery is less than the percentage change in quantity demanded.

o Changes in the price of plastic surgery do not affect the number of operations.

o Quantity demanded is quite responsive to changes in price.

o The marginal revenue of another operation is negative.

Reference no: EM131246032

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