The Figures Given Below Represent the Revenue Curves of a Monopolist

The figures given below represent the revenue curves of a monopolist. Figure 24.2 TR: Total revenue curve
AR: Average revenue curve
MR: Marginal revenue curve
According to Figure 24.2, at point C:

A) price elasticity of demand is equal to infinity.
B) price elasticity of supply is equal to 0.
C) price elasticity of supply is equal to 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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