The Rare Bird Company has a monopoly in the sale of macaws in Iowa. When the Rare Bird Company sells three macaws, its marginal revenue is $30. When the Rare Bird Company sells four macaws, its marginal revenue will be
A. equal to $30.
B. less than $30.
C. greater than $30.
D. greater than $30 if demand is elastic and less than $30 if demand is inelastic.
Answer: B
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Answer the following statement true (T) or false (F)
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