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.

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Definitions:

Proposition

A pronouncement that exhibits a view or judgment.

Converse

In logic, the converse of a statement is formed by swapping the hypothesis and conclusion of the original statement.

Proposition

A proclamation or assertion signaling an assessment or belief.

Obverse

The statement formed by negating both the subject and predicate of a given categorical proposition and changing the quality of the original proposition (from affirmative to negative or vice versa).