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Refer to the Following Table That Gives the Demand Facing  Price  Quartity $202015401055570\begin{array} { c c } \text { Price } & \text { Quartity } \\\hline \$ 20 & 20 \\15 & 40 \\10 & 55 \\5 & 70\end{array}

Question 97

Multiple Choice

Refer to the following table that gives the demand facing a monopolist:
 Price  Quartity $202015401055570\begin{array} { c c } \text { Price } & \text { Quartity } \\\hline \$ 20 & 20 \\15 & 40 \\10 & 55 \\5 & 70\end{array}
-Demand is __________ between 65 and 70 units of output because marginal revenue in that range is ______.


A) elastic, $50
B) elastic, $100
C) inelastic, negative
D) inelastic, positive

Correct Answer:

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