Which of the Following Statements Is True

question 70

Multiple Choice

Which of the following statements is true?

• A)The more elastic the demand, the higher is the profit-maximizing markup.
• B)The more elastic the demand, the lower is the profit-maximizing markup.
• C)The higher the marginal cost, the lower the profit-maximizing price.
• D)The higher the average cost, the lower the profit-maximizing price.

---

Definitions:

Ethnic Background

Refers to an individual's cultural heritage, including nationality, lineage, ancestry, and language.

Family Educational Rights and Privacy Act

A federal law in the United States that aims to protect the privacy of student education records, giving parents specific rights with respect to their children's education records until the age of 18, when these rights transfer to the students.

Health Insurance Portability and Accountability Act

A United States legislation that provides data privacy and security provisions for safeguarding medical information.