| Demand for a good is termed inelastic through the expenditure approach when if (Choose the correct alternative) |
| (a) Price of the good falls, expenditure on it rises |
| (b) Price of the good falls, expenditure on it falls |
| (c) Price of the good falls, expenditure on it remains un-changed |
| (d) Price of the good rises, expenditure on it falls |
Answer:
(c) Price of the good falls, expenditure on it remains unchanged.
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