Which one of the following four possibilities, results in an increase in total consumer expenditure?
A. Demand is unitary elastic and price falls.
B. Demand is elastic and price rises.
C. Demand is inelastic and price falls.
D. Demand is inelastic and price rises.
Answer:D
Which one of the following four possibilities, results in an increase in total consumer expenditure?
A. Demand is unitary elastic and price falls. B. Demand is elastic and price rises. C. Demand is inelastic and price falls. D. Demand is inelastic and price rises.