When demand is elastic, the marginal revenue resulting from a decrease in price is:

A) positive.
B) zero.
C) negative.
D) cannot be determined without more information.

A

Economics

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Assume the demand and supply functions for good X can be written as Qd = 1000 - 40Px Qs = -200 + 20Px In this example, equilibrium price is $20 and the equilibrium quantity is 200

Indicate whether the statement is true or false

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