Multiple Choice
Which of the following statements correctly identifies the relationship between marginal revenue and price elasticity of demand?
A) When price elasticity of demand is infinite,marginal revenue is greater than price.
B) When price elasticity of demand is equal to one,marginal revenue is zero.
C) When price elasticity of demand is more than one,marginal revenue is negative.
D) When price elasticity of demand is less than one,marginal revenue is positive.
Correct Answer:
Verified
Correct Answer:
Verified
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