If the demand for a product is elastic, then the marginal revenue is A. might be...
If the demand for a product is elastic, then the marginal revenue is
A. might be positive, equal to zero, or negative.
B. negative.
C. equal to zero.
D. positive.
Homework Answers
If the demand for a product is elastic, then the marginal revenue is positive
Option(D)
The relationship between marginal revenue and price elasticity is such that when the demand for the product is elastic, the marginal revenue will be positive and when the demand for the product is inelastic the marginal revenue will be negative and when th demand is unit elastic the marginal revenue will be zero.
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