39. 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 A. O Remain the same B. O Increase C. O Decrease D. O Any of the above

39. 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 A. O Remain the same B. O Increase C. O Decrease D. O Any of the above

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 3SCQ: Explain all the reasons why a decrease in a products price would lead to an increase in purchases.

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39. 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
A. O Remain the same
B. O Increase
C. O Decrease
D. O Any of the above

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