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Suppose the Point (Q = 2,000,P = $60)is the Midpoint

Question 474

Multiple Choice

Suppose the point (Q = 2,000,P = $60) is the midpoint on a certain downward-sloping,linear demand curve.Then


A) an increase in price from $40 to $42 will increase total revenue.
B) a decrease in price from $61 to $59 will leave total revenue unchanged.
C) the maximum value of total revenue is $120,000.
D) All of the above are correct.

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