A monopolist always produces on the elastic portion of the demand curve
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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If a lower price for a Pepsi decreases the demand for a Coke, the cross elasticity value for Pepsi and Coke is
A) definitely negative. B) definitely equal to zero. C) definitely positive. D) definitely greater than one. E) possibly negative, positive, or zero, but there is not enough information to decide.
Economics
If a decrease in price decreases a monopolist's total revenue, then
A) demand is elastic. B) demand is inelastic. C) demand is unit elastic. D) the law of demand is violated.
Economics