Given the four possibilities, which one 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
Given the four possibilities, which one 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