Multiple Choice
At a price $4 for Good X, a firm is willing to supply 1,400 units of X. For a price of $5 for Good X, the firm is willing to supply 1,500 units X. The change in revenue for the firm when the price of the good rises from $4 to $5 is a:
A) $100 increase in total revenue.
B) $1,500 increase in total revenue.
C) $7,500 increase in total revenue.
D) There is not enough information to answer the question.
Correct Answer:
Verified
Correct Answer:
Verified
Q20: Suppose that large oil reserves are discovered
Q38: Compared to the 1980s, the price of
Q39: Explain the change in tactics Gary Becker
Q41: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3375/.jpg" alt=" Reference: Ref 5-2
Q44: If the price elasticity of demand is
Q45: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3375/.jpg" alt=" A) elastic since
Q46: Since the demand for illegal drugs is
Q48: (Figure: Slave Redemption with Perfectly Elastic Supply)
Q92: If the cross-price elasticity of demand of
Q266: Summarize the factors that cause goods to