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Scenario: Mr

Question 6

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Scenario: Mr. Olivander has a monopoly on supplying magic wands. The table below shows the demand schedule for magic wands per day.
Scenario: Mr. Olivander has a monopoly on supplying magic wands. The table below shows the demand schedule for magic wands per day. -Refer to the scenario above.Mr.Olivander used to sell five wands per day.Now he plans to increase his sale to nine wands.The price effect of this plan is a ________,and the quantity effect of this plan is a ________ in his revenue. A) $15 decrease; $20 increase B) $125 decrease; $80 increase C) $45 increase; $90 decrease D) $35 decrease; $120 increase
-Refer to the scenario above.Mr.Olivander used to sell five wands per day.Now he plans to increase his sale to nine wands.The price effect of this plan is a ________,and the quantity effect of this plan is a ________ in his revenue.


A) $15 decrease; $20 increase
B) $125 decrease; $80 increase
C) $45 increase; $90 decrease
D) $35 decrease; $120 increase

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