The point on a linear demand curve where revenue is maximized is where
A. the price is the highest.
B. elasticity equals 0.
C. elasticity equals -1.
D. elasticity equals infinity.
Answer: C
You might also like to view...
Painters who paint water towers earn higher wages relative to painters who paint houses because
A) painting water towers is more risky than painting houses. B) the tower painters' union is probably more powerful than the house painters' union. C) the demand for tower painters is greater than the demand for residential painters. D) the supply of water tower painters exceeds the supply of house painters.
A policy reaction function describes how the action a policymaker takes depends on:
A. the reaction of special interest groups. B. public approval ratings. C. the political affiliation of the policymaker. D. the state of the economy.