If the price of a pumpkin rises and consumers' total expenditure on pumpkins increases, then the demand for pumpkins is inelastic.

Name: If the price of a pumpkin rises and consumers' total expenditure on pumpkins increases, then the demand for pumpkins is inelastic.
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Question

Quizplus · Accepted Answer

When the price of a good rises and total expenditure increases, it indicates that the quantity demanded does not decrease significantly, which is a characteristic of inelastic demand.

If the Price of a Pumpkin Rises and Consumers' Total