Suppose the demand for a czech novel translated into english is perfectly inelastic. assume the initial price of the translated novel is $20.00 and the quantity demanded is 138 copies per year. if the price of the translated novel increases by $2.00, then the quantity demanded will be copies per year.

quantity demanded will be 138 copies per year

Explanation:

given data

initial price of novel = $20.00  

quantity demanded = 138 copies per year

novel price increases = $2.00      

to find out

quantity demanded will be

solution

as we know that here quantity demand for noval is perfectly inelastic

so quantity demand remain same for the changes in prices

thus we can say price of Czech noval increase by $2

then also quantity demanded will be 138 copies per year

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answer the law of increasing costs;