-The figure illustrates the demand for peanuts. If the price falls from $12 to $9 a bag, total revenue will ________, and if the price rises from $3 to $6 a bag, total revenue will ________.
Definitions:
Freight Costs
Charges associated with the transportation of goods from one location to another, often considered part of inventory costs in accounting.
Merchandising Business
A business that purchases finished goods for resale, typically at a profit, engaging in buying and selling without altering the form of the goods.
Service Business
An enterprise offering non-physical goods or services to its clientele.
Merchandising Income Statement
A financial statement detailing the gross profit, expenses, and net profit or loss of a retail or wholesale business.
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