Demand curve for business firm is downward sloping

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Reference no: EM131389451

Suppose the demand curve for a business firm is downward sloping. Which statement is true about elasticity (ED), marginal revenue (MR), and/or total revenue (TR)?

a. In the elastic range of the demand curve, MR > 0 when selling price is reduced.

b. TR is constant along the length of the demand curve.

c. MR = selling price when the demand curve is downward sloping.

d. ED < 1 during the elastic range of the demand curve.

Reference no: EM131389451

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