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Below,the Graph on the Left Shows the Short-Run Marginal Cost

Question 26

Multiple Choice

Below,the graph on the left shows the short-run marginal cost curve for a typical firm selling in a perfectly competitive industry.The graph on the right shows current industry demand and supply. Below,the graph on the left shows the short-run marginal cost curve for a typical firm selling in a perfectly competitive industry.The graph on the right shows current industry demand and supply. If the firm's demand and marginal revenue curves were drawn in the left-hand graph,what would be the elasticity of demand? A) zero B) -6 C) -0.6 D) infinitely elastic E) unitary If the firm's demand and marginal revenue curves were drawn in the left-hand graph,what would be the elasticity of demand?


A) zero
B) -6
C) -0.6
D) infinitely elastic
E) unitary

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