When elasticity of demand is less than one (e<1), then following the formula MR=P[1-1/e], the MR will:

A. Positive

B. Negative

C. Zero

D. None of the above

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. Cross-elasticity of demand or cross-price elasticity between two independent goods will be:
  2. In the long run:
  3. In case of monopoly, when total revenue is maximum:
  4. The law of demand is most directly a result of:
  5. The slutsky demand curve includes:
  6. Some farm land can be used to produce either corn or soybeans. If the demand for corn increases then:
  7. Plumbing and pipe-fitting require many of the same skills. If the wage paid to pipe-fitters increased…
  8. The concept of industry in monopolistic competition has been replaced by:
  9. If a ten percent increase in price causes a ten percent reduction in quantity demanded, elasticity of…
  10. The budget line is described by each of the following except:
  11. Price-taker firms:
  12. The law of Diminishing Marginal Utility implies that the marginal utility of a good decreases as:
  13. Price is measured in:
  14. We can find total utility by:
  15. The reserve capacity in administration is advocated on the ground that demand for a product will:
  16. The main contribution of David Ricardo is in the field of:
  17. If the commodity is normal then the Income Effect (I.E) and the Substitution Effect (S.E):
  18. At a point where a straight line demand curve meets the price axis (Y-axis), the elasticity of demand…
  19. In general, most of the production functions measure:
  20. When total product increases at a decreasing rate:
  21. An iso-product (an isoquant) curve slopes:
  22. If the prices of goods rise then:
  23. In income effect, we:
  24. According to law of Equi-Marginal Utility when price of commodity falls then we bought:
  25. The Latin term citeris paribus means:
  26. The demand curve slopes downwards due to:
  27. Cournot equilibrium is attained where two reaction curves:
  28. Traditionally, the study of determination of price is called:
  29. A firm is a sum of persons who convert:
  30. In cournot model, each firm makes decision regarding: