Which of the following statements regarding the relationship between - ProProfs Discuss
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Which of the following statements regarding the relationship between elasticity  of demand and revenue is true?



A. If elasticity is greater than one, a decline in price decreases total revenue
B. If elasticity is greater than one a rise in price lowers the total revenue
C. If elasticity is less than one a decline in price increases total revenue
D. If elasticity is less than one a rise in price lowers total revenue

This question is part of Micro Exam 1
Asked by Wlkg, Last updated: Jan 23, 2020

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wlkg

Wlkg

Answered Mar 08, 2018

If elasticity is greater than one a rise in price lowers the total revenue
 

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