At the Profit- Maximising Output Level

question 167

Multiple Choice

At the profit- maximising output level:

• A) demand is elastic
• B) marginal revenue is positive and increasing
• C) demand is unit elastic
• D) demand is inelastic

---

Definitions:

Upper Middle Class

A socioeconomic group that is above the middle class, often characterized by higher education, professional employment, and above-average income.

Lorenz Curve

A graphical representation of income or wealth distribution within a population, often used to illustrate economic inequality.

Distribution Of Income

How a nation’s total earnings are spread among its population, impacting wealth inequality.

Wealth

Anything that has value because it produces income or could produce income.