If the Total Expenditure on Automobiles Increases When the Price

question 52

Multiple Choice

If the total expenditure on automobiles increases when the price of automobiles rises, the price elasticity of demand for automobiles is

• A) less than one (demand is inelastic).
• B) not determinable from the information given.
• C) greater than one (demand is elastic).
• D) exactly zero.
• E) equal to one (demand is unit elastic).

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