Refer to the diagram. If price falls from P 1 to P 2 , total revenue will become area(s):
A. B + D.
B. C + D.
C. A + C.
D. C.
A. B + D.
You might also like to view...
Which of the following items is likely to have the highest income elasticity of demand?
A) water B) a hamburger C) a luxury cruise to several European countries D) breakfast cereal
The labor force excludes those:
A. younger than age 16 years old. B. who don't want to work. C. who are disabled and can't work. D. The labor force excludes all of these.
Which philosophy supports the idea that people should be free to make their own decisions?
A. Traditional B. Libertarian C. Fascist D. Communist
The case for a "hands off" economic policy is based on the widely held belief that
A. Fiscal policy works but monetary policy does not. B. Discretionary policy can improve the economy in theory but is often impractical in practice. C. Monetary policy works but fiscal policy does not. D. Economic theory is inadequate to formulate effective discretionary policy.