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When marginal revenue is zero for a monopolist with a downward-sloping straight-line demand curve, the price elasticity of demand is

a. greater than 1.

b. equal to 1.

c. less than 2.

d. equal to 0. 

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Joshua Stredder
Joshua StredderLv10
4 Apr 2021

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Related questions

If a profit-maximizing monopolist faces a downward-sloping market demand curve, its

a. Average Revenue (AR) is less than the price of the product.

b. Average Revenue (AR) is less than Marginal Revenue (MR).

c. Marginal Revenue (MR) is less than the price of the product.

d. Marginal Revenue (MR) is greater than the price of the product.

A demand curve that has constant price elasticity of demand coefficient equal to 1 at all points is a (an):

a. rectangular hyperbola.

b. downward-sloping straight line.

c. upward-sloping straight line.

d. None of the above answers is correct. 

a linear downward-sloping demand curve has price elasticities (in absolute values) that

A. Increase as prices decrease

B. remain constant along the demand curve

C. decrease as price decreases

D. Are greater than or equal to 1. 

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