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Suppose the Point (Q = 3,400,P = $20)is the Midpoint

Question 99

Multiple Choice

Suppose the point (Q = 3,400,P = $20) is the midpoint on a certain downward-sloping,linear demand curve.Then


A) a decrease in price from $18 to $16 will increase total revenue.
B) a decrease in price from $24 to $22 will decrease total revenue.
C) a decrease in the price from $21 to $19 will decrease total revenue.
D) the maximum value of total revenue is $68,000.

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