As a Monopolist's Demand Curve Becomes More Inelastic

question 82

Multiple Choice

As a monopolist's demand curve becomes more inelastic,:

• A)the profit-maximizing price goes up.
• B)the profit-maximizing price goes down.
• C)the optimal mark-up of price over marginal cost goes down.
• D)average revenue falls.

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Definitions:

Creativity

The ability to produce original, diverse, and valuable ideas or solutions.

Nonconformity

Nonconformity refers to the refusal to align with established norms, rules, or laws within a society or group.

Conscientiousness

Refers to a personality trait characterized by organization, dependability, and a strong sense of duty.

Eight Types

This term is too vague without further context but could refer to various classification systems in psychology, such as personality types, without specifying which.