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1)Does a very high long-run elasticity of demand in an industry necessarily imply that there is no public policy issue? 2)According to the law of demand, a monopolist's price elasticity of demand _____

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1)Does a very high long-run elasticity of demand in an industry necessarily imply that there is no public policy issue?

2)According to the law of demand, a monopolist's price elasticity of demand _____.

a. is always negative ( though sometimes the negative sign is not written)

b. is sometimes positive and sometimes negative, and equal to 0 at the demand curve's midpoint

c. is positive only for a normal good and negative for inferior goods

d. is positive only for substitute goods and negative for complement goods.