Q306
When as a result of decrease in price of good, the total expenditure made on it decreases we say that price elasticity of demand is
A.
Less than unity
AnswerB.
Unity
C.
Zero
D.
Greater than Unity
Answer: Option A
Solution
Answer: Option A
Solution:
When as a result of decrease in price of good, the total expenditure made on it decreases we say that price elasticity of demand is less than unity.