See the information in Scenario 4.4. Suppose that the price should inc

See the information in Scenario 4.4. Suppose that the price should increase slightly from $10, how will this affect the total expenditure of consumers on the game?

A) Total expenditures will increase.
B) Total expenditures will not change.
C) Total expenditures will decrease by a larger percentage than the price increase.
D) Total expenditures will decrease by a smaller percentage than the price increase.
E) either C or D could be true.

ANSWER

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