A profit-maximizing monopolist will never operate in the portion of the demand curve with price elasticity equal to

A simplifying assumption

a. affects the important conclusions of an economic model b. increases the level of detail in an economic model c. makes an economic model a more concrete representation of reality d. eliminates unnecessary details from an economic model e. limits the validity of an economic model's conclusions

An assumption that makes an economic model simpler without affecting its conclusions in important ways is

a. an indication of a positive assumption b. an efficient assumption c. useful in disguising the valid conclusions d. a simplifying assumption e. a critical assumption