The Figures Given Below Represent the Revenue Curves of a Monopolist.Figure

The figures given below represent the revenue curves of a monopolist.Figure 11.2
TR: Total revenue curve
AR: Average revenue curve
MR: Marginal revenue curve
-According to Figure 11.2, at point C:

A) price elasticity of demand is equal to infinity.
B) price elasticity of supply is equal to 1.
C) price elasticity of supply is greater than 1.
D) price elasticity of demand is equal to 0.
E) price elasticity of demand is equal to 1.

Correct Answer:

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