### Change in price and total expenditure

Assignment Help Macroeconomics
##### Reference no: EM1311285

1.  Explain how a change in price affects total expenditure by filling in each cell with the resulting change in total expenditure.

 Demand is ... Increase in Price Decrease in Price Elastic Unit-elastic Inelastic

2.  You buy only apples and bananas.  Your budget is such that you can purchase 3 apples and 4 bananas or 9 apples and 2 bananas.  Write down the equation for the budget line with bananas on the y-axis.  Is that equation unique?

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