The Relationship Between Marginal Revenue and Elasticity Is

question 230

Multiple Choice

The relationship between marginal revenue and elasticity is

• A) when demand is elastic, marginal revenue is positive and when demand is inelastic, marginal revenue is negative.
• B) whenever the elasticity is positive, marginal revenue is positive.
• C) whenever the elasticity is negative, marginal revenue is positive.
• D) when demand is elastic, marginal revenue is negative and when demand is inelastic, marginal revenue is positive.
• E) that total revenue equals zero at the quantity for which the demand is unit elastic.

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Definitions:

Sealed System

A closed environment where no matter is allowed to enter or leave, typically used in reference to thermodynamic systems.

Carbonic Acid

A weak acid formed in solution when carbon dioxide dissolves in water, playing a vital role in the carbonation of soft drinks, the respiratory gas exchange, and the acid-base balance in the body.

Missing Material

Materials or items that are unaccounted for or lost in a situation or inventory.

Atomic Theory

A scientific theory that proposes matter is composed of discrete units called atoms, serving as the foundation for our understanding of chemical reactions and the properties of elements and compounds.