When Demand Is Elastic,marginal Revenue Is

question 41

Multiple Choice

When demand is elastic,marginal revenue is

• A) positive.
• B) negative.
• C) zero.
• D) increasing as output increases.
• E) undefined.

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Definitions:

Stereotyping

The act of assigning a fixed set of characteristics to a group of people, regardless of the individual differences and nuances among them.

Japanese Student

A student from Japan or of Japanese descent, potentially referring to their experiences, culture, or educational background.

Exploitation

The unfair use of people’s time or labour without compensating them fairly.

Corporation

An independent legal entity owned by shareholders, characterized by limited liability, perpetual succession, and the capacity to enter into contracts.