If the demand function is q = 3m/p, where m is income and p is price, then the absolute value of the price elasticity of demand decreases as price increases.

If the demand function is q = 3m/p, where m is income and p is price, then the absolute value of the price elasticity of demand decreases as price increases.

If the demand function is q = 3m/p, where m is income and p is price, then the absolute value of the price elasticity of demand decreases as price increases.



Answer: False