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If the demand for a good is inelastic, an increase in the price of the good will cause the total expenditure of the consumers of the good to

If the demand for a good is inelastic, an increase in the price of the good will cause the total expenditure of the consumers of the good to Correct Answer Increase

If the demand for a good is inelastic, an increase in the price of the good will cause the total expenditure of the consumers of the good to Increase.

Related Questions

The pie chart given below shows the expenditure of a family on six different articles A, B, C, D, E and F in a month. Total expenditure on all these six articles is Rs. 42000. Expenditure on a particular article is shown as a percent of total expenditure on all these six articles. Which of the following statement(s) is/are correct? I. Expenditure on article C is Rs. 5560 more than the expenditure on article A. Il. Ratio of expenditure on article A to the expenditure on article D is 5: 4 respectively.
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
As a result of increase in the price of good X, whose demand is inelastic, the total expenditure of the consumers of good X, will
Which of the following statement is/are correct?
1. When the percentage change in demand is greater than that of price, then demand is relatively inelastic.
2. When the demand remains unchanged at all price variation, it is perfectly inelastic.
Select the correct answer
If the demand of a commodity is inelastic, an increase in its price will cause the total expenditure of the consumers of the goods to
Which one of the following sets is incorrect to show the inter-relationships among price elasticity coefficient, change in price and change in total revenue ? Price elasticity coefficient Change in price Change in Total Revenue 1) Zero Increase Decrease Increase Decrease (2) Less than 1 Increase Decrease Decrease Increase (3) Equal to 1 Increase Decrease No change No change (4) More than 1 Increase Decrease Decrease Increase  
Consider the following statements about impact of tax: 1. A tax is shifted forward to consumers if the demand is inelastic relative to supply. 2. A tax is shifted backward to producers if the supply is relatively more inelastic than demand. Which of the statements given above is/are correct?
Consider the following statements about impact of tax : 1. A tax is shifted forward to consumers if the demand is inelastic relative to supply. 2. A tax is shifted backward to producers if the supply is relatively more inelastic than demand. Which of the statements given above is/are correct?
If the demand for a commodity is inelastic, an increase in its pice will cause the total expenditure of the consumers of the commodity to
If the demand for a good is price elastic, a fall in its price will lead to:
(i) A rise in sales
(ii) A fall in sales
(iii) A rise in total expenditure on the good
(iv) A fall in total expenditure on the good