Suppose the own-price elasticity of demand for good x is, Ask an Expert

Economics

Suppose the own-price elasticity of demand for good x is -0.25, and that the quantity of good x increases by 5%. what would you expect to happen to the total expenditures on good x?

a. increase

b. decrease

c. unchanged

d. neither increase, decrease nor emain unchaged.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91867100

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