Suppose the equilibrium price in the market is $60 and the marginal revenue associated with the linear (inverse)demand function is $20.Then we know that the own price elasticity of demand is:
A) −2.
B) 2.
C) −1.5.
D) It cannot be determined from the information contained in the question.

Question

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The Answer of Suppose the equilibrium price in the market is $60 and the marginal revenue associated with the linear (inverse)demand function is $20.Then we know that the own price elasticity of demand is:
A) −2.
B) 2.
C) −1.5.
D) It cannot be determined from the information contained in the question.

Suppose the Equilibrium Price in the Market Is $60 and the Marginal