Assume that the demand for plastic (cosmetic) surgery is price inelastic.

Are the following statements true or false? Explain.

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

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

c. Changes in the price of plastic surgery will affect the number of operations slightly.

d. Quantity demanded is quite responsive to changes in price.

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

False, if demand for plastic surgery is price inelastic, it means people don't respond to changes in price.

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

False, this means small changes in price create larger changes in the quantity demanded.

c. Changes in the price of plastic surgery will affect the number of operations slightly.

True, if demand is inelastic, changes in price will not impact the number of operations, but there may be a slight impact.

d. Quantity demanded is quite responsive to changes in price.

False, if demand for plastic surgery is price inelastic, it means people don't respond to changes in price.