Chonita borah Asked a Question
October 6, 2020 2:51 pmpts 50 pts
14. If the demand for the product of a monopoly firm is inelastic, then (A) its marginal revenue is negative B) its total revenue is unchanged when the firm lowers its price (C) its total revenue increases when the firm lowers its price (D) its marginal revenue is equal to zero 15. Compared to single-price a monopoly, the output of a perfectly competitive industry with the samhe Costs (A) is more than the monopoly's output (B) is less than the monopoly's output (C) could be more than, less than, or equal to the monopoly's output (D) is the same as the monopoly's output RSKD-11--16111.
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  • Nidhi taparia thankyou
    14. Option (A) is correct. When demand or AR is inelastic, that means demanded quantity will not change much even as the price changes. Based on the relationship between AR, MR and...
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