The Smiling Lizard Company has a monopoly in the sale of iguanas in Florida. When the Smiling Lizard Company sells ten iguanas its marginal revenue is $50. When the Smiling lizard Company sells eleven iguanas its marginal revenue will be
A. greater than $50 if demand is elastic and less than $50 if demand is inelastic.
B. greater than $50.
C. equal to $50.
D. less than $50.
Answer: D
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