Which of the Following Is FALSE Regarding Inelastic Demand?
A)Price $$\mathrm { E } _ { \mathrm { p } }$$

Multiple Choice

Which of the following is FALSE regarding inelastic demand?

A) Price elasticity of demand is less than 1 ( $$\mathrm { E } _ { \mathrm { p } }$$ < 1) .
B) If a firm raises price,total revenues will go up.
C) Price elasticity of demand is greater than 1 ( $$\mathrm { E } _ { \mathrm { p } }$$ > 1) .
D) If a firm lowers price,total revenues will fall.