What is the correct answer?


When total revenue (TR) falls in monopoly then elasticity of demand is:

A. E =1

B. E >1

C. E <1

D. E =0

Correct Answer :

C. E <1

Related Questions

Most of the supply curves with which the average consumer deals are: Increasing return to scales can be explained in terms of: The price under perfect competition is settled by: Diseconomies of management lead to: If X and Y are close substitutes, a fall in price of X will lead to: Average cost curve contains in it: When in a market, the number of buyers is very large and the number of… Who wrote Mathematical Analysis for Economists? In long run competitive equilibrium: Who formulated the Post-Keynsian Theory of Distribution and Growth? If production increases under increasing returns to scale, the cost will: As the price of diamond is higher, so it has: The Hicksian demand curve includes: Pure monopoly exists: Utility is a function of: MRSxy measures: If as a result of a decrease in price, total outlay (expenditures) on… While buying two goods X and Y with unequal prices, to maximize total… Economic problems arise because: Which cost increases continuously with the increase in production? In 1932, The nature and significance of economic science was written by: Supply and demand changes have their most rapid impact in: Income distribution effects: The short-run supply curve of the perfectly competitive firm is given… Price elasticity of demand is best defines as: In the case of substitutes, the cross demand curve slopes In repeated game, the Prisoners Dillemma can have a: Price discrimination is possible: The relationship between price effect, income effect and substitution… Microeconomics is also known as: