Use the Following to Answer Question(s): Demand, Elasticity, and Total

Multiple Choice

Use the following to answer question(s) : Demand, Elasticity, and Total Revenue

-(Exhibit: Demand, Elasticity, and Total Revenue) Panels (a) and (b) show that:

A) when a demand curve is downward sloping, P < MR.
B) a firm will never maximize profits by producing a quantity where the demand curve is in the inelastic range.
C) when TR is at a maximum, marginal revenue is negative.
D) all of the above are true.