crterrill3681 crterrill3681

26-04-2024
Business

Answered

In a monopoly market, the magnitude demand elasticity at quantity of 10 units is |E|=0.8. What happens if the monopolist expands output to 11 units?
a.Total Revenue increases.
b.Total Revenue decreases but Marginal Revenue increases.
c.Total Revenue decreases and Marginal Revenue is negative.
d.Profit increases.

Answer :

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