Which of the following is FALSE regarding inelastic demand? A) Price elasticity of demand is less than 1 ( 1). D) If a firm lowers price, total revenues will fall.

Question

Which of the following is FALSE regarding inelastic demand?
A) Price elasticity of demand is less than 1 ( < 1). 
B) If a firm raises price, total revenues will go up. 
C) Price elasticity of demand is greater than 1 ( > 1). 
D) If a firm lowers price, total revenues will fall.

Quizplus · Accepted Answer

The Answer of Which of the following is FALSE regarding inelastic demand?
A) Price elasticity of demand is less than 1 ( < 1). 
B) If a firm raises price, total revenues will go up. 
C) Price elasticity of demand is greater than 1 ( > 1). 
D) If a firm lowers price, total revenues will fall.

Which of the Following Is FALSE Regarding Inelastic Demand