If the Total Revenue of Producers Rises for an Initial

question 18

Multiple Choice

If the total revenue of producers rises for an initial cut in the price of their product but falls for further reductions in price, the price elasticity of demand for the product

• A) is zero.
• B) declines as price falls.
• C) rises and then falls.
• D) is unity.
• E) rises as price falls.

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