Multiple Choice
Refer to the following graph:
-Suppose price rises from $90 to $110. Total revenue moves in the ________ (same, opposite) direction as the dominant effect. In this case, total revenue ____________ (increases, decreases, stays the same) because the quantity effect is _________ (larger than, smaller than, the same as) the price effect.
A) same; increases; larger than
B) same; decreases; smaller than
C) same; decreases; larger than
D) opposite; increases; larger than
E) opposite; decreases; smaller than
Correct Answer:

Verified
Correct Answer:
Verified
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