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प्रश्न
If the demand is inelastic, what will be the effect of a fall in price on consumer's total outlay (expenditure)?
अति संक्षिप्त उत्तर
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उत्तर
Total expenditure falls: If demand is inelastic, a fall in price will lead to a decrease in consumer's total expenditure. This is because the percentage increase in quantity demanded is less than the percentage decrease in price.
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पाठ 4: Elasticity of Demand - TEST YOURSELF QUESTIONS [पृष्ठ ७२]
