Solved

Which of the Following Is Not Characteristic of the Demand

Question 165

Multiple Choice

Which of the following is not characteristic of the demand for a commodity that is elastic?


A) The relative change in quantity demanded is greater than the relative change in price.
B) Buyers are relatively sensitive to price changes.
C) Total revenue increases if price is increased.
D) The elasticity coefficient is greater than one.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q160: Which of the following is correct?<br>A)If the

Q161: If the government imposes an excise tax

Q162: Suppose the price elasticity of supply for

Q163: The price elasticity of demand is a

Q164: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8602/.jpg" alt=" Refer to the

Q166: Airlines charge business travelers more than leisure

Q167: A negative income elasticity of demand coefficient

Q168: A perfectly inelastic demand schedule<br>A)rises upward and

Q169: Price elasticity of demand is generally<br>A)greater in

Q170: Answer the question on the basis of