If the price elasticity of demand for a certain... - JAMB Economics 1993 Question
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
correct option: a
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