Economics · Elasticity of Demand
A linear demand curve is elastic when _______ and it is inelastic when __________.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1average revenue has a positive value; marginal revenue has a negative value
- 2marginal revenue has a positive value; marginal revenue has a negative value✓
- 3average revenue has a negative value; marginal revenue has a positive value
- 4marginal revenue has a negative value; average revenue has a positive value
Correct answer
marginal revenue has a positive value; marginal revenue has a negative value
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