When the Price of Chocolate-Covered Peanuts Increases from $1

question 106

Multiple Choice

When the price of chocolate-covered peanuts increases from $1.55 to $2.00,the quantity demanded decreases from 220 to 180.If the price is $1.55,total revenue is _____,and if the price is $2.00,total revenue is _____.

• A)$360;$440
• B)$341;$279
• C)$440;$279
• D)$341;$360

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Definitions:

Compounded Semi-Annually

Interest that is computed and added to the principal twice a year, allowing the investment to grow more rapidly.

Future Value

The value of a current asset at a specified date in the future based on an assumed rate of growth.

Deposits

Money placed into a financial institution for safekeeping, which may earn interest over time.

Investment Plan

A financial strategy designed to help individuals allocate their capital towards investment vehicles with the aim of generating future profits.