Which of the Following Is NOT Correct About a Single-Price

question 53

Multiple Choice

Which of the following is NOT correct about a single-price monopoly?

• A) Marginal revenue is negative when demand is inelastic.
• B) To maximise its profit, the firm produces so that marginal revenue equals marginal cost.
• C) Maximum profit is found where demand is the most inelastic.
• D) Marginal revenue is positive when demand is elastic.
• E) To sell more output, the firm must lower its price.

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