Which of the following statements is incorrect?

Managerial Economics

Which of the following statements is incorrect?

If a firm decreases the price of its product, its total revenue will decrease
The own price elasticity of demand is constant at all points along a linear demand curve
As the price of X falls and we move down an individual's demand curve for X, the money income of the individual also changes
None of the statements associated with this question are correct

None of the statements associated with this question are correct is incorrect.

Tags: Quantitative Demand Analysis