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.

---

Definitions:

My Egypt

A painting by Charles Demuth in 1927, part of the Precisionist movement, symbolically representing industrial America through the image of grain elevators.

Grain Elevator

A storage facility used for handling bulk materials, specifically grains, utilizing a mechanism to elevate the grains from ground level.

Charles Demuth

An American painter associated with the Precisionist movement, known for his detailed, geometric works depicting industrial and urban scenes.

Kinetic Sculptures

Artworks with parts that move, either by air, motor, or human interaction, creating visual or sound experiences.