If the Demand for Its Good or Service Is Elastic,a

question 38

Multiple Choice

If the demand for its good or service is elastic,a monopoly's

• A)total revenue is unchanged when the firm lowers its price.
• B)total revenue decreases when the firm lowers its price.
• C)marginal revenue is positive.
• D)marginal revenue is zero.
• E)marginal revenue is negative.

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Definitions:

Tomatoes

A widely cultivated fruit, botanically a berry, consumed in diverse ways, including raw, as an ingredient in many dishes and sauces, and processed into products like ketchup.

Population

The total number of people inhabiting a particular area, region, or country.

Apples

A fruit produced by an apple tree, broadly consumed worldwide and available in many varieties.

Pomegranates

Fruits with a tough outer skin and a multitude of edible seeds inside, known for their sweet and tart flavor and health benefits.