Multiple Choice
If a firm decreases the price of a good and total revenue decreases,then
A) the demand for this good is price elastic.
B) the demand for this good is price inelastic.
C) the cross elasticity is negative.
D) the income elasticity is less than 1.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q19: You are told that the price elasticity
Q20: Demand and supply in the wheat market
Q21: A tax that is imposed as a
Q22: If an item has several good substitutes,the
Q23: The cross-price elasticity of demand for coffee
Q25: When purchases of tennis socks decline following
Q26: The income elasticity for most staple foods,such
Q27: If the consumption of sugar does not
Q28: Assuming mustard and burgers are complements,a decline
Q29: Demand is given by Q<sub>D</sub> = 6000