Use the Table Below to Answer the Following Question

question 70

Multiple Choice

Use the table below to answer the following question.
Table 13.2.1

-Refer to Table 13.2.1. Minnie's Mineral Springs, a single-price monopoly, faces the market demand schedule given in the table. Minnie will not produce a quantity at which the market demand for water is inelastic because when demand is inelastic she can ________ the quantity produced, which ________.

• A)increase; increases total revenue, decreases total cost, and increases economic profit
• B)increase; increases total revenue and increases total cost, but the increase in total cost is less than the increase in total revenue
• C)decrease; increases total revenue, decreases total cost, and increases economic profit
• D)decrease; decreases total revenue and decreases total cost, but the decrease in total cost is less than the decrease in total revenue
• E)decrease; increases total revenue, does not change total cost, and increases economic profit

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Definitions:

Johnstown

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