Suppose the equilibrium price in the market is $10 and the price elasticity of demand for the linear demand function at the market equilibrium is ?1.25. Then we know that:

A. marginal revenue is $2.
B. demand is unit elastic.
C. marginal revenue is $50.
D. demand is inelastic.

Answer: A

Economics

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The total U.S. labor force participation rate increased over the past 50 years because

A) the female labor force participation rate increased. B) more men are retiring early. C) fewer women are attending college. D) many blue-collar jobs with rigid work hours have been created in the last decade. E) the male labor force participation rate increased.

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The above table describes the accounts for the country of Pacifica. Using this information, net exports for Pacifica equals

A) $100. B) $900. C) -$100. D) $650.

Economics