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Which of the following is a correct statement? Multiple Choice The lower the marginal cost, the higher the profit-maximizing price. The more elastic the demand,

Which of the following is a correct statement?

Multiple Choice

  • The lower the marginal cost, the higher the profit-maximizing price.
  • The more elastic the demand, the higher the profit-maximizing markup.
  • The lower the average cost, the higher the profit-maximizing price.
  • The less elastic the demand, the higher the profit-maximizing markup.

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