Price (P)B$50$30Demand8001,200Quantity (Q)In the figure above, when the price increases from point A to point B, the quantity effect on Total Revenue (the revenue loss from losingbuyers who had been buying a lower price) is:Select one:а. — $16,000b. - $4,000c. - $12,000d. - $10,000Next page

The quantity effect on total revenue will be = 800 - 1200 * 30 = -12000

Answered: In the figure above, when the price…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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In the figure above, when the price increases from point A to point B, the quantity effect on Total Revenue (the revenue loss from losing buyers who had been buying a lower price) is: Select one: a. - $16,000 b. - $4,000 c. - $12,000 d. - $10,000