If Marginal Revenue Equals Zero,then Demand at This Level of Output

question 2

Multiple Choice

If marginal revenue equals zero,then demand at this level of output is

• A)perfectly inelastic.
• B)inelastic.
• C)unit elastic.
• D)elastic.
• E)perfectly elastic.

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Definitions:

Purchased

Acquired by paying money or its equivalent; bought.

Strict Liability

A legal principle where someone is held responsible for damages or loss, regardless of fault or intention, often applied in product liability cases.

Reasonable Standard

A benchmark in law and ethics for what is considered acceptable behavior, judged from the perspective of a reasonable person.

Care

The provision of what is necessary for the health, welfare, maintenance, and protection of someone or something.