If the price of a good falls and expenditure on the good rises, the demand for the good is A. Elastic B. Perfectly elastic C. Inelastic D. Unit elastic
If the price of a good falls and expenditure on the good rises, the demand for the good is A. Elastic B. Perfectly elastic C. Inelastic D. Unit elastic
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 1SQP
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Question
If the price of a good falls and expenditure on the good rises, the demand for the good is
A. Elastic
B. Perfectly elastic
C. Inelastic
D. Unit elastic
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