Practice: The following demand schedule relates to the market for computer chips. What happens to total revenue if the price falls from $400 to $350?
| Sections | |||
|---|---|---|---|
| Percentage Change and Price Elasticity of Demand | 19 mins | 0 completed | Learn |
| Elasticity and the Midpoint Method | 25 mins | 0 completed | Learn |
| Price Elasticity of Demand on a Graph | 12 mins | 0 completed | Learn |
| Determinants of Price Elasticity of Demand | 6 mins | 0 completed | Learn |
| Total Revenue Test | 13 mins | 0 completed | Learn |
| Total Revenue Along a Linear Demand Curve | 15 mins | 0 completed | Learn |
| Income Elasticity of Demand | 24 mins | 0 completed | Learn |
| Cross-Price Elasticity of Demand | 13 mins | 0 completed | Learn |
| Price Elasticity of Supply | 12 mins | 0 completed | Learn |
| Price Elasticity of Supply on a Graph | 4 mins | 0 completed | Learn |
| Elasticity Summary | 10 mins | 0 completed | Learn |
Concept #1: Total Revenue Test
Expert Q&A
Ask unlimited questions and get expert help right away.
Practice: A price change causes the quantity demanded of a good to decrease by 20 percent, while the total revenue increased by 10 percent. The demand curve is:
Progress
0 of 3 completed
Videos in Total Revenue Test
Concept #1: Total Revenue Test
Practice #1: Total Revenue Test
Practice #2: Total Revenue Test
Expert Q&A
Ask unlimited questions and get expert help right away.
