If the Price of Grapes Increases, Total Expenditures on Grapes

question 127

Multiple Choice

If the price of grapes increases, total expenditures on grapes will decline if

• A) there are few substitutes for grapes.
• B) the supply of grapes is inelastic.
• C) the demand for grapes is elastic.
• D) grapes are a normal good.

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Definitions:

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