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6 August, 20:03

Indicate whether the following statements are true (T) or false (F). nothing : When the marginal revenue is positive, demand is elastic. nothing : If the firm raises the price in the elastic range of demand, total revenue will increase. nothing : When demand is unit elastic, marginal revenue = 1. nothing : When the total revenue is increasing, demand is elastic. nothing : The absolute value of the price elasticity of demand increases as you move down the demand curve.

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  1. 6 August, 22:49
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    1) True, because MR = P[1-1/e] demand is elastic if e> 1. Thus for e>1 MR is positive.

    2) False, because for elastic demand increase in price will lead to fall in revenue.

    3) False, because MR will be zero. (MR = P[1-1/e], put e = 1)

    4) True, because MR will be positive

    5) FaIse
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