Consider the Demand Curve in the Graph Shown

question 7

Multiple Choice

Consider the demand curve in the graph shown. Suppose the price is initially $6 and then falls to $4. Which of the following statements is true?

• A) The quantity effect will outweigh the price effect, and total revenue will rise.
• B) The quantity effect will outweigh the price effect, and total revenue will fall.
• C) The price effect will outweigh the quantity effect, and total revenue will rise.
• D) The price effect will outweigh the quantity effect, and total revenue will fall.

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