Which of the Following Statements Is NOT Correct

question 134

Multiple Choice

Which of the following statements is NOT correct?

• A) If demand is unitary elastic an increase in the price of a good will not change total revenue.
• B) If demand is elastic a higher price will actually decrease total revenue.
• C) Total revenue will fall if consumer's response to a price cut is large.
• D) If the relative change in price is greater than the relative change in the quantity demanded associated with it,demand is inelastic.

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Definitions:

Snake River Plain

A geographic feature in the U.S. states of Idaho and Oregon, characterized by a vast area of flatland through which the Snake River flows.

Afar Region

A region in the Horn of Africa, known for its volcanic activity and being part of the Afar Triple Junction where three tectonic plates meet.

Continental Hot Spot

A region above a stationary hot mantle plume that can cause volcanic activity in the middle of a tectonic plate.

Meteorite Impact

The collision of a meteorite with another body, such as a planet or moon, often leaving a crater and causing significant geological effects.