Which of the Following Statements Is Not Correct

question 102

Multiple Choice

Which of the following statements is not correct?

• A)If the relative change in price is greater than the relative change in the quantity demanded associated with it, demand is inelastic.
• B)In the range of prices in which demand is elastic, total revenue will diminish as price decreases.
• C)Total revenue will not change if price varies within a range where the elasticity coefficient is unity.
• D)Demand tends to be elastic at high prices and inelastic at low prices.