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
Answer: Option 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 increase. Raising prices will always cause total revenue to increase.
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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.
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