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Question

  1. Ed=1

i. MR is negative

  1. Ed>1

ii. MR=0

  1. Ed<1

iii. MR is positive

A a) i, b) ii, c) iii Correct Answer Incorrect Answer
B a) ii, b) iii, c) i Correct Answer Incorrect Answer
C a) iii, b) i, c) i Correct Answer Incorrect Answer
D a) i, b) iii, c) ii Correct Answer Incorrect Answer
E a) ii, b) i, c) iii Correct Answer Incorrect Answer

Solution

TR is constant when Ed = 1. So, MR=0. When PED is elastic, TR increases so, MR is positive. When PED is inelastic, TR decreases so, MR is negative.

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