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

34 Views

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

Previous

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

Next

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

Tags: Demand and Supply MCQs

Related Articles

The term 'normal profit' as used in the analysis of equilibrium of the firm under perfect competition, refers to

The term ‘normal profit’ as used in the analysis of equilibrium of the firm under perfect competition, refers to

According to Joseph Schumpeter, profit is the reward for

According to Joseph Schumpeter, profit is the reward for

Who argued that pure profit can arise only in a dynamic economy?

Who argued that pure profit can arise only in a dynamic economy?

The classical theory explained interest as a reward for

The classical theory explained interest as a reward for

We will be happy to hear your thoughts

Leave a reply Cancel reply

You must be logged in to post a comment.