Unique Creations has a monopoly position in magnometers. If the marginal cost for a magnometer is $50 and the price elasticity for magnometers is -4, what is the optimal monopoly price?

A "trade deficit" occurs when

A) we sell more to one country than another. B) we sell more to other countries than we buy from them. C) we buy more from other countries than we sell to them. D) we sell less to one country than another.

On a linear demand curve, demand is ________ at the middle of the demand curve than it is at small quantities.

A. more elastic B. less elastic C. equally elastic D. There is insufficient information in the question.