In Examining the Concept of Price Elasticity of Demand, It

question 193

Multiple Choice

In examining the concept of price elasticity of demand, it is seen that if:

• A) price and quantity change in the opposite direction, then demand is price elastic.
• B) price and total revenue change in the opposite direction, then demand is price inelastic.
• C) price and total revenue change in the opposite direction, then demand is price elastic.
• D) price and total revenue change in the same direction, then demand is price elastic.

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