563
Question
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 _____.
Open in App
Solution
The correct option is C 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 increase.
Raising prices will always cause total revenue to 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 increase.
Raising prices will always cause total revenue to increase.
Suggest Corrections
0
Similar questions