Teaching EMRS PGT Mock Test 2023 General Knowledge Economy Microeconomics

The demand curve is elastic when _______ and it is inelastic when __________.

1
marginal revenue has a negative value; average revenue has a positive value
2
average revenue has a negative value; marginal revenue has a positive value
3
marginal revenue has a positive value; marginal revenue has a negative value
4
average revenue has a positive value; marginal revenue has a negative value
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