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MrPorter Sells 10 Bottles of Champagne Per Week at $50

Question 253

Multiple Choice

Mr.Porter sells 10 bottles of champagne per week at $50 per bottle.He can sell 11 bottles per week if he lowers the price to $45 per bottle.The quantity and the price effects on total revenue would be,respectively,an increase of _____ and a decrease of _____.


A) $450;$500
B) $495;$550
C) $45;$5
D) $45;$50

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