Statement I A rectangular hyperbola shaped demand curve has uniform slopes on all its points.
Statement II If the price elasticity is equal to unity, the marginal revenue corresponds to zero.

A) Both statements are correct B) Both statements are incorrect C) Statement I is correct while Statement II is incorrect D) Statement I is incorrect while Statement II is correct

Answer & Solution

Correct Answer: Option D

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Statement I A rectangular hyperbola shaped demand curve has uniform slopes...

Statement I A rectangular hyperbola shaped demand curve has uniform slopes on all its points. Statement II If the price elasticity is equal to unity, the marginal revenue corresponds to zero.

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Related Questions on Managerial Economics

Statement I A rectangular hyperbola shaped demand curve has uniform slopes on all its points.
Statement II If the price elasticity is equal to unity, the marginal revenue corresponds to zero.