Multiple Choice
Use the following to answer question:
Figure: The Market for Gas Stations
-(Figure: The Market for Gas Stations) Use Figure: The Market for Gas Stations.The figure shows curves facing a typical gas station in a large town.The market is characterized by many firms,differentiated products,easy entry,and easy exit.If the gas station shown here were to raise its price above the profit-maximizing price,the outcome would be _____ in total revenue.
A) a reduction
B) an increase
C) no change
D) Not enough information is given to answer the question.
Correct Answer:

Verified
Correct Answer:
Verified
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