If demand is elastic,a decrease in quantity will cause the total spending $( P \times Q )$ to
A)rise.
B)fall.
C)remain unchanged.
D)change in a way that cannot be determined.

Name: If demand is elastic,a decrease in quantity will cause the total spending $( P \times Q )$ to A)rise. B)fall. C)remain unchanged. D)change in a way that cannot be determined.
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Question

Quizplus · Accepted Answer

If demand is elastic, a decrease in quantity will result in a relatively larger decrease in price. As a result, the total spending will fall (P x Q).

If Demand Is Elastic,a Decrease in Quantity Will Cause the Total