1.The price of aspirin rose sharply last month, while the quantity sold remained the same. Five people suggest various diagnoses of the phenomenon:

Meredith:Demand increased, but supply was perfectly inelastic.

Alex:Demand increased, but it was perfectly inelastic.

Miranda:Demand increased, but supply decreased at the same time.

Richard:Supply decreased, but demand was unit elastic.

Owen: Supply decreased, but demand was perfectly inelastic.

Who could possibly be right? Use graphs to explain your answer.