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

Economics
JAMB 1993
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 raises the total revenue of the supplier
  • D. a decrease in price leaves the total revenue constant
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Correct Answer: Option A
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