d Safari File Edit View History Bookmarks Window Help & FriApr12 7:35PM ng.cengage.com + Cengage Learning 2% MindTap - Cengage Learning B course Hero Resur LT :W CENGAGE ' MINDTAP Q search this course Module Six Quiz @ X 7 . Monopoly and Price Elasticity L Consider the relationship between monopoly pricing and the price elasticity of demand. ORDERS If demand is inelastic, total revenue would increase when a monopolist W its price. As a result, total cost would W . Therefore, a monopolist will w produce a quantity at which the demand curve is inelastic. RENTALS Use the purple segment (diamond symbols) to indicate the portion of the demand curve that is inelastic. (Hint: The answer is related to the marginal- SOl g revenue (MR) curve.) Then use the black point (plus symbol) to show the quantity and price that maximizes total revenue (TR). Study Tools 0 College Success Tips Inelastic Demand Career Success Tips b . [ 0 Max TR Help | i [c]\\o) Marginal Revenue Safari Edit View History Bookmarks Window Help Q 8 Fri Apr 12 7:35 PM