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Anam Fatma posted an Question
April 03, 2021 • 01:44 am
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30 points
30 points
- UGC NET
- Commerce
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) dec
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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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. It means, in case of less elastic demand, price and total expenditure move in the same direction.
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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. It means, in case of less elastic demand, price and total expenditure move in the same direction.
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Rucha rajesh shingvekar![best-answer]()
When demand is inelastic, an increase in price will result in an increase in total revenue.