If a particular production process is subject to diminishing marginal returns to labor at every level of output, then at every level of output

What is the Coase theorem?

What will be an ideal response?

Suppose the baseball card industry is monopolistic. We know then that for the monopolist,

a. price elasticity of demand everywhere along its demand curve is infinite b. price elasticity of demand everywhere along the demand curve is zero c. as price increases, marginal revenue decreases d. as price decreases, marginal revenue decreases e. price equals marginal revenue everywhere along its demand curve