Advertisements
Advertisements
प्रश्न
If the demand is elastic, what will be the effect of a fall in price on consumer's total outlay?
अति संक्षिप्त उत्तर
Advertisements
उत्तर
Total expenditure rises: If demand is elastic, a fall in price will lead to an increase in consumer's total expenditure. This is because the percentage increase in quantity demanded is greater than the percentage decrease in price.
shaalaa.com
क्या इस प्रश्न या उत्तर में कोई त्रुटि है?
