Suppose the Point (Q = 2,000,P = $60)is the Midpoint

question 474

Multiple Choice

Suppose the point (Q = 2,000,P = $60) is the midpoint on a certain downward-sloping,linear demand curve.Then

• A) an increase in price from $40 to $42 will increase total revenue.
• B) a decrease in price from $61 to $59 will leave total revenue unchanged.
• C) the maximum value of total revenue is $120,000.
• D) All of the above are correct.

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Definitions:

Flow Rate

The volume of fluid that passes a point in a given time, commonly used in contexts such as plumbing, rivers, and other fluid systems.

Variation Terminology

Language and terms used to describe changes or differences in variables or conditions.

Directly

In a straight and unambiguous manner, often indicating a direct relationship between variables in mathematics.

Fourth Root

A number that when raised to the fourth power yields the original number; it is the square root of the square root.