Use the Figure Below, Which Shows a Linear Demand Curve

question 25

Multiple Choice

Use the figure below, which shows a linear demand curve and the associated total revenue curve, to answer the questions.


-The marginal revenue of the 700th unit is $_____ and demand is __________ at this point.

• A) -20; elastic
• B) -20; inelastic
• C) 15; elastic
• D) 15; inelastic

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