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If a single-price monopolist sets price where the price elasticity of demand exactly equals 1 (absolute value), its A) total revenue is at its maximum.
If a single-price monopolist sets price where the price elasticity of demand exactly equals 1 (absolute value), its
A)
total revenue is at its maximum.
B)
marginal revenue is always positive.
C)
total profits are at a maximum.
D)
total revenue is falling.
E)
total revenue is rising, although marginal revenue is falling.
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