Which of the following statements is NOT correct?   Multiple Choice   If demand is unitary elastic, an increase in the price of a good will not change total revenue.   Total revenue will fall if consumer’s response to a price cut is relatively smaller than the price cut.   If demand is elastic, a higher price will actually decrease total revenue.   If the relative change in price is greater than the relative change in the quantity demanded associated with it, demand is inelastic.

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