Quantity Price Demanded $ TR Test 265 8 XXXXXX 190 16 110 24 65 32 40 40 Problem 2 c: Total Revenue and TR Test: Referencing the table shown above, calculate Total Revenue and label the Degree of Elasticity (by utilizing the TR Test). Enter your answers into the answer boxes provided. (Hint: You can reference the degree of elasticity of the ED coefficients in the previous question.) Formula: Total Revenue Price x Quantity Demanded Total Revenue $ |

Quantity Price Demanded $ TR Test 265 8 XXXXXX 190 16 110 24 65 32 40 40 Problem 2 c: Total Revenue and TR Test: Referencing the table shown above, calculate Total Revenue and label the Degree of Elasticity (by utilizing the TR Test). Enter your answers into the answer boxes provided. (Hint: You can reference the degree of elasticity of the ED coefficients in the previous question.) Formula: Total Revenue Price x Quantity Demanded Total Revenue $ |

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Y S G X-IM 935 -250 320 40 70 2,100 320 140 40 3,220 250 320 200 -150 4,800 375 320 240 -185 5,320 650 320 320 - 340 6,300 825 320 340 -340 Assume taxes are equal to zero. What is the equilibrium level C for the above economy? 4,425 4,800. 5,175. 4,010.