Economics · Elasticity of Demand
If the demand for a commodity is inelastic, an increase in its price will cause the total expenditure of the consumers on that commodity to:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Become zero
- 2Remain the same
- 3Decrease
- 4Increase✓
Correct answer
Increase
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