Multiple Choice
Compute the marginal revenue when the price elasticity of demand is −0.10.
A) −9P, meaning marginal revenue is negative and 9 times greater than price.
B) 9P, meaning marginal revenue is positive and 9 times greater than price.
C) −3P, meaning marginal revenue is negative and 3 times greater than price.
D) 3P, meaning marginal revenue is positive and 3 times greater than price.
Correct Answer:
Verified
Correct Answer:
Verified
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