Which of the Following Statements Is True

question 181

Multiple Choice

Which of the following statements is true?

• A)If the price of a good is lowered and total revenue decreases, demand is elastic.
• B)If the price of a good is raised and total revenue does not change, demand is perfectly elastic.
• C)If the price of a good is raised and total revenue increases, demand is inelastic.
• D)If the price of a good is lowered and total revenue increases, demand is inelastic.

---

Definitions:

Summarizing Information

The process of condensing key points or details into a brief overview.

Developing Recommendations

The process of creating suggestions or proposals based on analysis and insights, aimed at resolving a problem or improving a situation.

Processing Data

The action of collecting, manipulating, and analyzing information to produce a meaningful outcome.

Drawing Conclusions

The process of making a judgement or deducing information based on the analysis of data or evidence.