Suppose the Equilibrium Price in the Market Is $200 and the Marginal

question 150

Multiple Choice

Suppose the equilibrium price in the market is $200 and the marginal revenue associated with the linear (inverse) demand function is −$200.Then we know that the own price elasticity of demand is:

• A) −0.5.
• B) −1.
• C) 2.
• D) It cannot be determined from the information contained in the question.

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