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Refer to the Accompanying Figure

Question 20

Multiple Choice

Refer to the accompanying figure. If the price of this good is initially $3, and price falls by a few cents, then what will happen to total expenditure on this good? Refer to the accompanying figure. If the price of this good is initially $3, and price falls by a few cents, then what will happen to total expenditure on this good?   A) Total expenditure will rise. B) Total expenditure will not change. C) Total expenditure will fall. D) Total expenditure will fall to 0.


A) Total expenditure will rise.
B) Total expenditure will not change.
C) Total expenditure will fall.
D) Total expenditure will fall to 0.

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