Which of the Following Statement Is False? I

question 26

Multiple Choice

Which of the following statement is false? I.IEPR states that the monopolist's optimal markup of price above marginal cost expressed as follows: the monopolist's optimal markup,expressed as a percentage of price,is equal to minus the inverse of the price elasticity of demand.
II.IEPR tells us that the price elasticity of demand plays a vital role in determining what price a monopolist should charge to maximize profits.

• A) I and II are true.
• B) I and II are false.
• C) I is true; II is false.
• D) II is true; I is false.

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