The Following Figure Shows the Demand Curve Faced by a Monopolist

question 73

Multiple Choice

The following figure shows the demand curve faced by a monopolist.

-Refer to the figure above.What is the change in total revenue due to a price increase from $3 to $5?

• A) Total revenue increases by $100.
• B) Total revenue decreases by $100.
• C) Total revenue increases by $200.
• D) Total revenue decreases by $200.

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Definitions:

Binge Eating

The consumption of large quantities of food in a short period of time, often associated with a loss of control over eating and used as a way to cope with negative emotions.

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