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teyodani teyodani
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A year ago

The diagram below shows total revenue for a single-price monopolist.

Short description: A graph plots quantity against total revenue in dollars. Long description: The horizontal axis represents quantity. The vertical axis represents total revenue in dollars. The graph plots a curve. The curve resembles a downward parabola representing TR. It begins at the origin and ends at Q subscript 4 on the horizontal axis. Vertical dashed lines are extended from the curve to meet the horizontal axis at Q subscript 1, Q subscript 2, and Q subscript 3.

FIGURE 10-3

Refer to Figure 10-3. The price elasticity of demand at Q3 is



▸ greater than 1.

▸ equal to 1.

▸ zero.

▸ less than 1.

▸ not determinable from the diagram.
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Microeconomics

Microeconomics


Edition: 17th
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tranle311tranle311
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