2) If a firm lowered the price of the product it sells and found that total revenue did not change, then the demand for its product is A) relatively elastic. B) unit elastic. C) perfectly inelastic. D) perfectly elastic.

2) If a firm lowered the price of the product it sells and found that total revenue did not change, then the demand for its product is A) relatively elastic. B) unit elastic. C) perfectly inelastic. D) perfectly elastic.

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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2) If a firm lowered the price of the product it sells and found that total revenue did not change, then the
demand for its product is
A) relatively elastic. B) unit elastic. C) perfectly inelastic. D) perfectly elastic.

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