If a firm sells 50 units at price of 5 and 70 units at price 7, which of the following is false? A. There is a positive relationship between price and quantity sold. B. Its marginal revenue is equal...

If a firm sells 50 units at price of 5 and 70 units at<br>price 7, which of the following is false?<br>A. There is a positive relationship between price<br>and quantity sold.<br>B. Its marginal revenue is equal to 12.<br>C. Its price elasticity of supply is equal to 1.<br>D. All of the above are true.<br>E. All of the above are false.<br>

Extracted text: If a firm sells 50 units at price of 5 and 70 units at price 7, which of the following is false? A. There is a positive relationship between price and quantity sold. B. Its marginal revenue is equal to 12. C. Its price elasticity of supply is equal to 1. D. All of the above are true. E. All of the above are false.

Jun 09, 2022

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If a firm sells 50 units at price of 5 and 70 units at price 7, which of the following is false? A. There is a positive relationship between price and quantity sold. B. Its marginal revenue is equal...

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