When marginal revenue is zero:
A. total revenue is maximized.
B. elasticity of demand is zero.
C. total cost is minimized.
D. profit is maximized.
Answer: A
You might also like to view...
In Pioneer Ville, the price elasticity of demand for bus rides is 0.5 . When the price of a bus ticket rises by 5 percent, _______
A. the demand for bus rides increases by 10 percent B. the quantity of bus rides demanded increases by 2.5 percent C. the demand for bus rides decreases by 2.5 percent D. the quantity of bus rides demanded decreases by 2.5 percent
The relationship between average and marginal variables can be stated as follows: if the marginal is greater than the average,
a. the average is increasing b. the average is decreasing c. the marginal is increasing d. the marginal is decreasing e. the total is decreasing