The figures given below represent the revenue curves of a monopolist. Figure 24.2 TR: Total revenue curve
AR: Average revenue curve
MR: Marginal revenue curve
According to Figure 24.2, at point C:
A)price elasticity of demand is equal to infinity.
B)price elasticity of supply is equal to 0.
C)price elasticity of supply is equal to 1.
D)price elasticity of demand is equal to 0.
E)price elasticity of demand is equal to 1.

Question

The figures given below represent the revenue curves of a monopolist. Figure 24.2  TR: Total revenue curve
AR: Average revenue curve
MR: Marginal revenue curve
According to Figure 24.2, at point C:
A)price elasticity of demand is equal to infinity. 
B)price elasticity of supply is equal to 0. 
C)price elasticity of supply is equal to 1. 
D)price elasticity of demand is equal to 0. 
E)price elasticity of demand is equal to 1.

Quizplus · Accepted Answer

The Answer of The figures given below represent the revenue curves of a monopolist. Figure 24.2  TR: Total revenue curve
AR: Average revenue curve
MR: Marginal revenue curve
According to Figure 24.2, at point C:
A)price elasticity of demand is equal to infinity. 
B)price elasticity of supply is equal to 0. 
C)price elasticity of supply is equal to 1. 
D)price elasticity of demand is equal to 0. 
E)price elasticity of demand is equal to 1.

The Figures Given Below Represent the Revenue Curves of a Monopolist