The figure given below shows the demand curve faced by a firm. Figure 10.1 
Refer to Figure 10.1 and calculate the revenue lost when the firm lowers the price of its product from $8 to $4.
Definitions:
International Transactions
Financial activities that occur between two or more countries, including trade, investments, and loans.
Rapid Approach
A method or technique aimed at achieving a particular goal or result quickly and efficiently.
Efficient Firms
Efficient firms are those that maximize outputs or outcomes while minimizing inputs or resources, effectively utilizing resources without waste.
Corruption
Dishonest or fraudulent conduct by those in power, typically involving bribery or the manipulation of authority for personal gain.
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