Multiple Choice
Refer to the following table showing a demand schedule:
-If price rises from $100 to $150,
A) arrows representing the price and quantity effects both point upward.
B) an arrow representing the price effect points upward and is shorter than an arrow for the quantity effect, which points downward.
C) total revenue moves up, or increase, as indicated by the direction of the arrow representing the price effect.
D) the arrow representing the price effect points down and the arrow representing the quantity effect points up.
E) both c and d
Correct Answer:

Verified
Correct Answer:
Verified
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