When Marginal Revenue Is Zero,demand Will Be

question 25

Multiple Choice

When marginal revenue is zero,demand will be:

• A) elastic.
• B) inelastic.
• C) unit elastic.
• D) There is not sufficient information to classify the elasticity of demand.

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Definitions:

Regression Equation

is a mathematical formula that describes the relationship between dependent and independent variables.

Unit Increase

In statistics or mathematical contexts, it refers to an increment by one in the value or quantity of a measurement.

Holding Constant

A method in statistical analysis where specific variables are kept unchanged to isolate the effects of other variables.

Polynomial Model

A type of regression analysis where the relationship between the independent variable and the dependent variable is modeled as an nth degree polynomial.