In the graph for the relationship between elasticity of the demand and total revenue, we can see that at five units, ______.
a. total revenue is rising and marginal revenue is profitable
b. total revenue is rising and marginal revenue is unprofitable
c. total revenue is maximized and marginal revenue is zero
d. total revenue is minimized and marginal revenue is equal to price
c. total revenue is maximized and marginal revenue is zero
You might also like to view...
If there are approximately 6,000 barrels of known reserves of oil, an estimated 10,000 barrels of unknown reserves of oil,
and it is estimated that the supply of oil will be depleted in 40 years, what is the annual consumption of barrels of oil, all else equal? A) 150 B) 250 C) 400 D) 1,600
Which of the following is the situation in which a nation shifts its international trade from nations outside a regional trade bloc to nations within the bloc?
A) trade diversion B) trade deflection C) trade retention D) protectionism