For a downward-sloping demand curve, except at the y-intercept, why is

MRless than current price?

Select one:

a.Revenue is less than price because revenue subtracts costs while price does not.

b.

MRreflects the previous unit sold, and profit-maximizing firms always raise price.

c.To induce the next demander to buy, the price has to be lower than the current price.

d.

MRis less than price whenever demand is inelastic.