Microecon

Question 11 1.5 pts A firm has a downward-sloping linear demand curve. Which of the following statements are true? The price elasticity of demand ranges from perfectly inelastic to perfectly elastic as price moves up from 0. Total revenue decreases as price is increased from zero, then increases as price increases above half of the maximum willingness to pay for the product. Total revenue for the firm is maximised in the elastic section of the demand curve. There is an inelastic and an elastic region of the demand curve. Elasticity is constant along the demand curve