MCQOPTIONS
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| 1. |
Which one of the following sets is incorrect to show the inter-relationships among price elasticity coefficient, change in price and change in total revenue ?Price elasticity coefficientChangein priceChange in TotalRevenue1) ZeroIncreaseDecreaseIncreaseDecrease(2) Less than 1IncreaseDecreaseDecreaseIncrease(3) Equal to 1IncreaseDecreaseNo changeNo change(4) More than 1IncreaseDecreaseDecreaseIncrease |
| A. | (1) |
| B. | (2) |
| C. | (3) |
| D. | (4) |
| Answer» C. (3) | |