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प्रश्न
True or False with Reason:
In case of perfectly inelastic demand, expenditure on the commodity does not change with change in its price.
चूक किंवा बरोबर
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उत्तर
This statement is false.
Explanation:
- In perfectly inelastic demand, quantity demanded remains constant when price changes.
- Total expenditure = price × quantity, so if price changes while quantity is fixed, total expenditure changes.
- Hence, expenditure does change with a change in price.
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