If a firm decreases the price of a good and total revenue decreases, then the demand for this good is price elastic. the demand for this good is price inelastic. the cross elasticity is negative. the income elasticity is less than 1.

If a firm decreases the price of a good and total revenue decreases, then the demand for this good is price elastic. the demand for this good is price inelastic. the cross elasticity is negative. the income elasticity is less than 1.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 2SQ

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If a firm decreases the price of a good and total revenue decreases, then

the demand for this good is price elastic.

the demand for this good is price inelastic.

the cross elasticity is negative.

the income elasticity is less than 1.

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