Homework Answers
ANSWER:
The correct answer is option b that is gained revenue is represented by areas b and c and lost revenue by area f.
as when the price is $10 , then the quantity is 25 while at $30 it is 15 and so the revenue increased from $10 * 25 = $250 to $30 * 15 = $450 ,that is increase of $200 , area b and c is $300 (20 * $15) and area f is $100 (10 * $10) and so $300 - $100 ,an increase of $200.
so option b is the right answer.
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Question Completion Status: westion 10 Figure 7-10 1 Price Supply P2A.....D PUB 02 Refer to Figure 7-10. Which area represents the increase in producer surplus when the price rises from P1 to P2? a. AHGB b. ACH О с. BCG d. ABGD Moving to another question will save this response. Question Completion Status: Supply Demand 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 5 D Refer to Figure 8-4. The amount of...
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