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 preceding statements is correct.

Question

Quizplus · Accepted Answer

The Answer of 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 preceding statements is correct.

Which of the Following Statements Is INCORRECT