Which of the Following Statements Is True

Multiple Choice

Which of the following statements is true?

A) When a firm lowers the price of its product, total revenue always falls.
B) When a firm raises the price of its product, total revenue always rises.
C) When a firm raises the price of its product, total revenue always falls.
D) When a firm lowers the price of its product, total revenue always rises.
E) When a firm lowers the price of its product, the impact on total revenue depends upon whether the good is elastic, inelastic, or unit elastic in demand.