Home ยป 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
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
Q. 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:
- Increase
- B Decrease
- Remain the same
- Become zero
Answer: Increase