Assume the Marginal Revenue from Each Additional Unit of a Good

question 81

Multiple Choice

Assume the marginal revenue from each additional unit of a good sold is 0.In this case,we can conclude that demand for the good is:

• A)unit elastic
• B)perfectly elastic.
• C)perfectly inelastic.
• D)relatively inelastic.

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Definitions:

Probability

A measure of the likelihood that an event will occur, expressed as a number between 0 and 1.

Probability

A measure or estimation of how likely it is that an event will occur, expressed as a number between 0 and 1.

Unfavorable

Describing something that is disadvantageous, negative, or not beneficial; often related to opinions, conditions, or outcomes.

Probability

The chance of an event happening, represented numerically from 0 to 1.