Question 14

If the price elasticity of demand for a certain commodity is less than unity, then

  • A.an increase in the price of the commodity will raise the total revenue of the producer
  • B.an increase in price leaves the total revenue unchanged
  • C.a decrease in price leaves the total revenue of the supplier unchanged
  • D.a decrease in price leaves the total revenue constant
Objective

Question details

Exam body
UNIPORT
Subject
Economics
Year
2009/2010
Question no.
#14
Type
Objective

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