suppose demand is perfectly elastic. if price equals $20, then marginal revenue group of answer choices equals $0. equals $ infinity. equals $20. is not defined. none of these.

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04-11-2022
Business

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suppose demand is perfectly elastic. if price equals $20, then marginal revenue group of answer choices equals $0. equals $ infinity. equals $20. is not defined. none of these.

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jayilych4real jayilych4real · Answer 1 · 2022-11-07T12:43:02-05:00

If we suppose demand is perfectly elastic and if price equals $20, then the marginal revenue would be A. equals $0.

What is an Elastic Demand?

This refers to the term that is used to describe a demand where any price increase leads to a demanded quantity dropping down to zero and essentially reduces the price of goods available.

Hence, we can see that when it comes to marginal revenue, is also a term that is used to describe the revenue a company earns in revenue for each additional unit sold.

With this in mind, what we can deduce is that when the demand is perfectly elastic and if the price equals $20, then the marginal revenue would be A. equals $0.

This, when demand is perfectly elastic, the conclusion that can be made is if the price is about $20, it would fall to $0 because of the marginal revenue which is a factor of demanded quantity dropping down to zero

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What is an Elastic Demand?

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