If a monopolist's marginal revenue is less than zero over a range ...

[scienceeasy]

If a monopolist's marginal revenue is less than zero over a range of output, then price elasticity of demand must be:
 a. greater than one.
  b. equal to one.
 c. less than one.
 d. equal to zero.

Question 2

In the light of the infant industry argument, identify the industry which is likely to have substantially high initial costs.
 a. Fashion designing
  b. Retail industry
  c. Iron and steel industry
  d. Dairy industry
  e. Software industry

[medine]

Answer to Question 1

c

Answer to Question 2

c

[scienceeasy]

Excellent

[matt95]

Great answer, keep it coming