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:

False Imprisonment

The unlawful confinement of a person without consent or legal justification, restricting their freedom of movement.

Reasonable and Probable Grounds

The legal standard used to establish the justification needed for an action, such as an arrest or search, indicating that a reasonable person would also believe the action is justified based on the evidence.

Light Bulb

A device that produces light from electricity, typically consisting of a filament wire that is heated until it glows.

Trespass

The act of entering or remaining on someone else's property without permission, which can be a civil wrong or criminal offense.