When Price Equals £4, 250 Units of a Good Are

question 3

Multiple Choice

When price equals £4, 250 units of a good are demanded, but when the price is reduced to £3, 400 units are demanded. The revenue gained from decreasing the price is _____.

• A) £200
• B) £1200
• C) £1000
• D) £500

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Definitions:

Enhanced Injunction

A more stringent form of injunction that may include additional or stricter terms than a standard injunction, often used in complex legal situations.

Patent Law

A legal framework that grants inventors exclusive rights to their new and useful inventions for a limited period.

Cannot Be Patented

Refers to ideas, discoveries, or creations that do not meet the legal criteria for patent protection, often due to lack of novelty or non-obviousness.

Statutory Damages

Predetermined sums of money that a person found liable for a certain violation must pay, as stipulated by statute rather than based on actual harm caused.