Suppose You Observe That Output in an Industry Occurs on the Inelastic

Multiple Choice

Suppose you observe that output in an industry occurs on the inelastic part of the market demand curve.Which of the following can you conclude from this?

A) The industry is definitely behaving as a monopoly that is protected by barriers to entry.
B) The industry is definitely not behaving as a monopoly that is protected by barriers to entry.
C) The industry could be perfectly competitive.
D) The industry is definitely not perfectly competitive.
E) Both (a) and (d)
F) Both (b) and (c)
G) Both (b) and (d)
H) None of the above