Demand and Supply MCQs

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

September 27, 2022

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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

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

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Demand for a commodity refers 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

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An individual demand curve slopes downward to the right because of the

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