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

---

Definitions:

Denominated

Used to describe the currency in which a financial transaction or investment is stated or valued.

Eurobonds

International bonds issued in a currency not native to the country where it is issued, allowing companies to raise capital in a foreign currency.

Bearer Form

A method of issuing securities whereby the certificate does not record the owner's name, making possession of the physical certificate equivalent to ownership of the security.

Income Taxes

Taxes imposed by the government directly on income, both earned (salaries, wages, commissions) and unearned (interest, dividends).