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If a Single-Price Monopolist Sets Price Where the Price Elasticity

Question 1

Multiple Choice

If a single-price monopolist sets price where the price elasticity of demand exactly equals 1,its


A) total profits are at a maximum.
B) marginal revenue is always positive.
C) total revenue is rising,although marginal revenue is falling.
D) total revenue is falling.
E) total revenue is at its maximum.

Correct Answer:

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