If a Firm Decreases the Price of a Good and Total

question 24

Multiple Choice

If a firm decreases the price of a good and total revenue decreases,then

• A)the demand for this good is price elastic.
• B)the demand for this good is price inelastic.
• C)the cross elasticity is negative.
• D)the income elasticity is less than 1.

---

Definitions:

Batch Processing

A processing method where data or transactions are accumulated over a period and processed as a single group.

OLAP

Online Analytical Processing, a category of software tools that provides analysis of data stored in a database, enabling complex calculations, trend analysis, and data modeling.

Source Data Processing

The handling or manipulation of raw data to prepare it for further analysis, including validation, sorting, reduction, and transformation.

MRP II

Stands for Manufacturing Resource Planning, an evolution of Material Requirements Planning (MRP) that integrates additional data, such as employee and financial needs, to support manufacturing processes.