You Are Hired as a Production Analyst at Monopoly-R-Us and You

question 173

Multiple Choice

You are hired as a production analyst at Monopoly-R-Us and you estimate that, at current output, demand is inelastic and marginal cost is positive.You advise your superiors that they can increase profit by

• A)raising price until demand becomes unit elastic
• B)raising price into the elastic range
• C)lowering price until demand becomes unit elastic
• D)lowering price into the elastic range
• E)reduce output without changing price

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