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The total amount spent on a service with an inelastic demand will if supply decreases. decrease. increase. One cannot tell without knowing the size of the change in supply. -remain the same.

The total amount spent on a service with an inelastic demand will if supply decreases. decrease. increase. One cannot tell without knowing the size of the change in supply. -remain the same.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The total amount spent on a service with an inelastic demand will if supply decreases. decrease. increase, One cannot tell without knowing the size of the change in supply. -remain the same.
Transcribed Image Text:The total amount spent on a service with an inelastic demand will if supply decreases. decrease. increase, One cannot tell without knowing the size of the change in supply. -remain the same.
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