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If the demand for a good is inelastic, a...

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

remain the same.

B

increase

C

decrease

D

Any of these

Text Solution

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The correct Answer is:
b
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  7. A decrease in price will result in an increase in total revenue if :

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