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Which of the Following Is FALSE Regarding Inelastic Demand

Question 219

Multiple Choice

Which of the following is FALSE regarding inelastic demand?

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