Consider the Following AR and MR Curves for a Single-Price

question 125

Multiple Choice

Consider the following AR and MR curves for a single-price monopolist. FIGURE 10-2
-Refer to Figure 10-2.The price elasticity of demand at Q₁ is

• A)zero.
• B)less than 1.
• C)equal to 1.
• D)greater than 1.
• E)not determinable from the diagram.

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