The demand on physician services is quite price inelastic

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The demand on physician services is quite price inelastic. If a physician determines to increase the price per visit by 10%, then

the quantity demanded on the physician's service will decline more than 10%.

the revenue received by the physician will decline.

the quantity demanded on the physician's service will increase less than 10%.

the revenue received by the physician will increase.

Reference no: EM131467331

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