Which of the Following Statements Is INCORRECT

question 78

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 statements is correct.

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Definitions:

Push Processes

Supply chain processes that operate on forecast demand, pushing products through the supply chain to the end user.

Customer Demand

The quantity of products or services that consumers are willing and able to purchase at various prices during a specified period.

Available Capacity

The maximum output or the total amount of work that a facility, employee, or machine can produce or accommodate in a specific period.

Inventory

The goods and materials that a business holds for the purpose of resale or production.