When total revenue increases as price falls, the coefficient of price elasticity of demand is

Economics

WAEC 2024

A. greater than one.
B. one
C. less than one
D. zero

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Correct Answer: Option A

Explanation

A: If a fall in price result to increase in revenue that means the goods is price elastic, if it is prize elastic, then the price elasticity of demand must be greater than one.

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When total revenue increases as price falls, the coefficient of price elasticity of demand is

Correct Answer: Option A

Explanation

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