Which of the Following Statements Is NOT Correct

Which of the following statements is NOT correct?

A) If demand is unitary elastic an increase in the price of a good will not change total revenue.
B) If demand is elastic a higher price will actually decrease total revenue.
C) Total revenue will fall if consumer's response to a price cut is large.
D) If the relative change in price is greater than the relative change in the quantity demanded associated with it,demand is inelastic.

Correct Answer:

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