Question

if the demand is a inelastic, what will be affect of a fail in price are consumer totally outly ?​

Answer 1

Explanation:

When demand is inelastic, a fall in the price of a commodity leads to fall in total expenditure on it. On the other hand, when price increases, total expenditure also increases. It means, in case of less elastic demand, price and total expenditure move in the same direction.

Answer 2

Explanation:

When demand is inelastic, an increase in the price of a commodity would cause the total expenditure of the consumers to increase. As demand is inelastic, demand does not respond to the change in price, now when the price rises the expenditure also increases since we know, expenditure is the product of price and quantity demanded.

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