Illustrate what would you expect to happen

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Reference no: EM1328491

Price elasticity of demand and expenditure

Suppose the own-price elasticity of demand for good X is -0.5, and that the price of good X increases by 10%. What would you expect to happen to the total expenditures on good X?

A. increase.

B. decrease.

C. unchanged.

D. none of the above.

Reference no: EM1328491

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