question archive If a business can sell 300 units at a price of $10 but only 280 units at $11, which of the following can we conclude? a) marginal revenue is negative b) marginal revenue is decreasing, but it is still greater than price c) demand is elastic and marginal revenue is positive d) demand is elastic and marginal revenue, though positive, is less than marginal cost e) total revenue increases, so demand must be inelastic
If a business can sell 300 units at a price of $10 but only 280 units at $11, which of the following can we conclude? a) marginal revenue is negative b) marginal revenue is decreasing, but it is still greater than price c) demand is elastic and marginal revenue is positive d) demand is elastic and marginal revenue, though positive, is less than marginal cost e) total revenue increases, so demand must be inelastic
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If a business can sell 300 units at a price of $10 but only 280 units at $11, which of the following can we conclude?
a) marginal revenue is negative
b) marginal revenue is decreasing, but it is still greater than price
c) demand is elastic and marginal revenue is positive
d) demand is elastic and marginal revenue, though positive, is less than marginal cost
e) total revenue increases, so demand must be inelastic
Option 1
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