Sally runs a vegetable stand The following table shows two points on the demand curve for the heirloom tomatoes she sells Quantity demanded per week 100,000 200,000 Price $4.00 $2.75 Sally's marginal revenue from lowering the price of tomatoes from $4.00 to $2.75 is S (Enter your response rounded to two decimal places) Lowering the price from $4 00 to $2 75 results in an output effect of S and a price effect of S (Enter your responses as whole numbers and include a minus sign i necessary)

Sally runs a vegetable stand The following table shows two points on the demand curve for the heirloom tomatoes she sells Quantity demanded per week 100,000 200,000 Price $4.00 $2.75 Sally's marginal revenue from lowering the price of tomatoes from $4.00 to $2.75 is S (Enter your response rounded to two decimal places) Lowering the price from $4 00 to $2 75 results in an output effect of S and a price effect of S (Enter your responses as whole numbers and include a minus sign i necessary)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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