Consider the Demand Curve in the Graph Shown

question 73

Multiple Choice

Consider the demand curve in the graph shown. Suppose price is initially $11 and falls to $8. 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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Definitions:

Strictly Positive

In mathematics, referring to a quantity greater than zero.

Triumph Over Poverty

Describes the achievement of significant improvement in one's socioeconomic status, overcoming the challenges and limitations imposed by poverty.

Negative Stereotypes

Oversimplified and harmful assumptions about a specific group of people that often contribute to prejudice and discrimination.

Ethnic Group

A community of people who share a common cultural background, heritage, language, or lineage.