A company was selling its product at a price of $8 a unit, and sold 18 units. Then they raised the price to $11 and sold 14 units. In this case, the lost revenue due to the quantity effect is __________ and the new revenue due to the price effect is $36.5; $44 O $36.5; $42 O $32; $42 O $32; $44

A company was selling its product at a price of $8 a unit, and sold 18 units. Then they raised the price to $11 and sold 14 units. In this case, the lost revenue due to the quantity effect is __________ and the new revenue due to the price effect is $36.5; $44 O $36.5; $42 O $32; $42 O $32; $44

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

A company was selling its product at a
price of $8 a unit, and sold 18 units. Then
they raised the price to $11 and sold 14
units. In this case, the lost revenue due to
the quantity effect is _________ and the new
revenue due to the price effect is
$36.5; $44
O $36.5; $42
O $32; $42
$32; $44

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