Refer to the Graphs of D and MR for a Monopolist

question 377

Multiple Choice

Refer to the graphs of D and MR for a monopolist. Which of the following statements is true?

• A)Demand is elastic at a price of P₁.
• B)Demand is inelastic at a price of P₂.
• C)The price elasticity of demand is constant over the entire demand curve.
• D)Demand is unitary-elastic over the entire demand curve.

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