Which of the Following Statements Is INCORRECT

question 88

Multiple Choice

Which of the following statements is INCORRECT?

• A) If a firm decreases the price of its product, its total revenue must decrease.
• B) The own price elasticity of demand is constant at all points along a linear demand curve.
• C) As the price of X falls and we move down an individual's demand curve for X, the money income of the individual also changes.
• D) None of the preceding statements is correct.

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Definitions:

Peanuts

A legume crop grown mainly for its edible seeds, known scientifically as Arachis hypogaea.

Ritual Sacrifices

Religious or ceremonial acts involving the offering of gifts or the killing of animals or humans to a deity or higher power, intended as a form of worship, appeasement, or thanksgiving.

Aztecs

A Mesoamerican culture that flourished in central Mexico in the post-classic period from 1300 to 1521, known for their complex society, architecture, and contributions to mathematics and astronomy.

Publicly Executing

The act of carrying out a death sentence in front of a public audience, historically used as a method of punishment and deterrence.