Refer to the figure above. What is the change in total revenue due to a price increase from $3 to $5?
A) The total revenue increases by $100.
B) The total revenue decreases by $100.
C) The total revenue increases by $200.
D) The total revenue decreases by $200.
C
Economics
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Out-of-pocket expenses such as wages and raw materials are
A) direct costs. B) an owner-provided capital cost. C) implicit costs. D) explicit costs.
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The key element in preserving a monopoly is keeping rivals out of the market.
Answer the following statement true (T) or false (F)
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Which of the following could cause a recession?
A. A decline in aggregate demand B. A decline in unemployment C. An increase in aggregate supply D. An increase in government spending
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Which location would have the highest net primary productivity?
A. CHILE B. CHINA C. COLOMBIA D. COMOROS
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