Author Question: If a monopolist's marginal revenue is less than zero over a range of output, then price elasticity ... (Read 35 times)

scienceeasy · **on:** Jun 30, 2018

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