Assume a change in price causes the price elasticity of demand for a good (in ab

Question

Assume a change in price causes the price elasticity of demand for a good (in absolute value) and marginal revenue to decrease. In this case we can conclude that the price of the good was:
A. Decreased
B. Increased
C. Held constant
D. Cannot be determined Assume a change in price causes the price elasticity of demand for a good (in absolute value) and marginal revenue to decrease. In this case we can conclude that the price of the good was:
A. Decreased
B. Increased
C. Held constant
D. Cannot be determined
A. Decreased
B. Increased
C. Held constant
D. Cannot be determined

Explanation / Answer

A. Decreased

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