Multiple Choice
If the price of a good rises and as a result total revenue falls, then it must be true that
A) cross elasticity of demand for the good is negative.
B) price elasticity of demand for the good is less than 1.
C) income elasticity of demand for the good is positive.
D) income elasticity of demand for the good is negative.
E) price elasticity of demand for the good is greater than 1.
Correct Answer:
Verified
Correct Answer:
Verified
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