If the price of a commodity is raised by 12% and Ed is (-) 0.63, the expenditure made on the commodity by a consumer will ______.
CA Foundation · Business Economics · MTP · September 2024
If the price of a commodity is raised by 12% and Ed is (-) 0.63, the expenditure made on the commodity by a consumer will ______.
Suggested Answer and Working Notes:
Correct Answer: Option (B)
B. Increase
Topics: Theory of Demand and Supply
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