Question
3. 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
3. 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.
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New Products Management
Authors: C Merle Crawford
12th Edition
1260512010, 9781260512014
