Assume that a consumer finds that his total expenditure on compact discs stays the same after the price of compact discs declines. Which of the following is true for this price change? Compact discs are inferior goods to this consumer. The consumer's demand for compact discs increased in response to the price change. The consumer's demand for compact discs is perfectly price elastic. The consumer's demand for compact discs is perfectly price inelastic. The consumer's demand for compact discs is unit price elastic. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Assume that a consumer finds that his total expenditure on compact discs stays the same after the price of compact discs declines. Which of the following is true for this price change?
Compact discs are inferior goods to this consumer.
The consumer's demand for compact discs increased in response to the price change.
The consumer's demand for compact discs is perfectly price elastic.
The consumer's demand for compact discs is perfectly price inelastic.
The consumer's demand for compact discs is unit price elastic.
Note:-
Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
Answer completely.
You will get up vote for sure.
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