If the price elasticity of demand for a firm's output is elastic, then the firm's marginal revenue is
A) positive, and an increase in price will cause total revenue to increase.
B) positive, and an increase in price will cause total revenue to decrease.
C) negative, and an increase in price will cause total revenue to increase.
D) negative, and an increase in price will cause total revenue to decrease.

Question

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The Answer of If the price elasticity of demand for a firm's output is elastic, then the firm's marginal revenue is
A) positive, and an increase in price will cause total revenue to increase.
B) positive, and an increase in price will cause total revenue to decrease.
C) negative, and an increase in price will cause total revenue to increase.
D) negative, and an increase in price will cause total revenue to decrease.

If the Price Elasticity of Demand for a Firm's Output