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:

Nasal Cavities

Hollow spaces within the nose that filter, warm, and humidify air breathed in, also playing a role in olfaction (sense of smell).

Gallbladder

A small, pear-shaped organ located beneath the liver, responsible for storing and concentrating bile, a digestion-aiding fluid.

Cholecystokinin

A hormone secreted by the small intestine that aids digestion by stimulating the gallbladder to release bile and the pancreas to secrete enzymes.

Bile

A substance created in the liver and stored in the gallbladder. Bile is a bitter, yellow-green fluid that is used in the digestion of fats.