Anam fatma Asked a Question
April 2, 2021 8:14 pmpts 30 pts
40. If the demand for a good is inelastic, an increase in its price will cause the total expenditure of the consumers of the good to: a) remain the same (c) decrease (b) increase (d) any of these
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  • Rucha rajesh shingvekar thankyou
    When demand is inelastic, an increase in price will result in an increase in total revenue.
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  • Rahul
    when demand is inelastic, a fall in the price  of a commodity leads to fall in total expenditure on it. On the other hand, when price increases total expenditure  also increases. ...
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  • Rahul
    when demand is inelastic, a fall in the price  of a commodity leads to fall in total expenditure on it. On the other hand, when price increases total expenditure  also increases. ...
    Show more
    Likes(0) Reply(0)
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