A Monopoly Firm Expands Its Output and Lowers Its Price

question 61

Multiple Choice

A monopoly firm expands its output and lowers its price. The firm finds that its total revenue falls. Hence, the firm is producing in the

• A) elastic range of its demand curve.
• B) inelastic range of its demand curve.
• C) elastic range of its supply curve.
• D) inelastic range of its supply curve.

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