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:

Unconditioned Response

An automatic, natural reaction to a stimulus that occurs without any prior learning or conditioning.

Conditioned Stimulus

A previously neutral stimulus that, after becoming associated with the unconditioned stimulus, eventually comes to trigger a conditioned response.

Conditioned Response

A learned response to a previously neutral stimulus after it has been repeatedly associated with an unconditioned stimulus.

Classical Conditioning

A training technique in which two stimuli are paired repeatedly; the response initially caused by the second stimulus becomes triggered by the first stimulus after some time.