A monopolist that operates along the elastic range of its demand will find that A. it is more profitable to operate along the inelastic range of the demand curve. B. total revenue increases when price decreases. C. total revenue decreases when price decreases. D. marginal revenue is negative

say it in english maybe we can

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answer (b); /// a method of measuring the opinions of a large group of people by selecting a subset of the larger group, asking them a set of questions and then generalizing those responses;

answer; advertising;