{"id":119253,"date":"2022-09-27T14:12:08","date_gmt":"2022-09-27T08:42:08","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=119253"},"modified":"2022-09-27T14:12:30","modified_gmt":"2022-09-27T08:42:30","slug":"if-the-demand-for-a-commodity-is-inelastic-an-increase-in-its-price","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/if-the-demand-for-a-commodity-is-inelastic-an-increase-in-its-price\/","title":{"rendered":"If the demand for a commodity is inelastic, an increase in its price will cause the total expenditure of the consumers of the commodity to"},"content":{"rendered":"\n<p><strong>Q. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 If the demand for a commodity is inelastic, an increase in its price will cause the total expenditure of the consumers of the commodity to:<\/strong><\/p>\n\n\n\n<p>A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Remain the same&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase<\/p>\n\n\n\n<p>C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any of the above<\/p>\n\n\n\n<p>Answer: Increase<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Q. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 If the demand for a commodity is inelastic, an increase in its price will cause the total expenditure of the consumers of the commodity to: A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Remain the same&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any of the above Answer: Increase<\/p>\n","protected":false},"author":419,"featured_media":119254,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4960],"tags":[4961],"offerexpiration":[],"class_list":["post-119253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-demand-and-supply-mcqs","tag-demand-and-supply-mcqs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/119253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/419"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=119253"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/119253\/revisions"}],"predecessor-version":[{"id":119255,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/119253\/revisions\/119255"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/119254"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=119253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=119253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=119253"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=119253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}