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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Mr. Dubey • 86.20K Points
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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:

(A) Increase

(B) Decrease

(C) Remain the same

(D) Become zero

Correct Answer - Option(A)
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Filed under category Principles of Economics and Management

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