Suppose the Point (Q = 3,400,P = $20)is the Midpoint

question 99

Multiple Choice

Suppose the point (Q = 3,400,P = $20) is the midpoint on a certain downward-sloping,linear demand curve.Then

• A)a decrease in price from $18 to $16 will increase total revenue.
• B)a decrease in price from $24 to $22 will decrease total revenue.
• C)a decrease in the price from $21 to $19 will decrease total revenue.
• D)the maximum value of total revenue is $68,000.

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Definitions:

Emotion

A complex psychological state that involves a subjective experience, a physiological response, and a behavioral or expressive response.

Motivation

The process that initiates, guides, and maintains goal-oriented behaviors.

Sensory Neurons

Nerve cells that transmit sensory information (sight, sound, feeling, etc.) from the body to the central nervous system.

Central Nervous System

The part of the nervous system consisting of the brain and spinal cord, responsible for processing and transmitting information throughout the body.