Multiple Choice Questions on If the demand for a good is inelastic an increase in its price will cause the total expenditure of t........... for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

If the demand for a good is inelastic an increase in its price will cause the total expenditure of t...........

Economics- Phase (I & II) Demand and Supply for Money 
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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

    Correct Answer

    Decrease

    Incorrect Answer

    Remain the same

    Incorrect Answer

    Become zero

    Incorrect Answer
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    Explanation:

    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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