Suppose that the Dollar Tree ("where everything's a dollar") is a monopolist in the market for hula hoops. They face an inverse demand curve. Is the Dollar Tree profit-maximizing in the market for hula hoops? Assume that, as with everything the Dollar Tree sells, each hula hoop is priced at $1. (Hint: Consider the price elasticity of demand.)

(a.) More information is needed.

(b.) No, they should lower prices

(c.) Yes, they are profit-maximizing

(d.) No, they should raise prices

(e.) Not necessarily,but they are revenue maximizing