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Posted on Jun 12, 2024

Consider a firm facing a downward-sloping demand curve. Which of the following is true at the profit-maximizing level of output? Assume marginal costs are positive.

A. Demand is perfectly inelastic

B. Demand is inelastic, but not perfectly inelastic

C. Demand is unit-elastic

D. Demand is elastic, but not perfectly elastic

E. Demand is perfectly elastic

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