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Which of the Following Is Correct

Question 160

Multiple Choice

Which of the following is correct?


A) If the demand for a product is inelastic, a change in price will cause total revenue to change in the opposite direction.
B) If the demand for a product is inelastic, a change in price will cause total revenue to change in the same direction.
C) If the demand for a product is inelastic, a change in price may cause total revenue to change in either the opposite or the same direction.
D) The price elasticity coefficient applies to demand, but not to supply.

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