Multiple Choice
Which of the following statements about demand elasticity is correct?
A) If demand is price-inelastic,an increase in price will reduce total expenditures.
B) If demand is price-elastic,an increase in price will increase total expenditures.
C) If demand is price-inelastic,an increase in price will increase total expenditures.
D) If demand is price-elastic,an increase in price will leave total expenditure unchanged.
Correct Answer:
Verified
Correct Answer:
Verified
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