Refer to the Following Figure

question 4

Multiple Choice

Refer to the following figure:

-At a price of $1, the point elasticity of demand for D₂ is ________ and marginal revenue is _______.

• A)-5; positive
• B) -0.5; negative
• C)-0.2; negative
• D) -1; zero

---

Definitions:

Workweek

The standard number of working hours or days that constitutes a full week of work for an employee.

Progressive Income Tax

A tax system where the tax rate increases as the taxable amount of income increases, placing a higher tax burden on high-income earners.

Taxable Income

Taxable income is the amount of income that is subject to income tax, after deductions and exemptions.

Percent

A method of representing a number as a part of 100.