Please answer the following questions one by one with detailed explanations.
1.If a profit maximizing monopolist faces a linear demand curve and has zero marginal cost, it will produce at:
A. lowest point of marginal revenue curve
B. elasticity of demand equals 1
C. lowest point of marginal profit curve
D. all of the choices are correct
2.If a profit maximizing monopolist faces a linear demand curve and has zero marginal cost, it will produce where demand elasticity is __________________ if it will produce at all.
A. Inelastic
B. Elastic
C. 1
D. Information is inadequate to answer the question
3.If the demand curve for a single price monopolist always is a downward sloping straight line, then marginal revenue
A. Will be a straight line with a negative slope of twice the demand curve slope
B. Will be a straight line with a negative slope of one-half the demand curve slope
C. Will be identical to the demand curve
D. Will be a horizontal line