In this graph, measure quantity on the horizontal axis and total revenue on the vertical axis.

d. What is total revenue when the price is $550? Will total revenue increase or decrease when the price is lowered?

Total Price Quantity Sold Revenue

$1,000 200 200,000 900 400 360,000 800 600 480,000 700 800 560,000 600 1,000 600,000 500 1,200 600,000 400 1,400 560,000 300 1,600 480,000 200 1,800 360,000 100 2,000 200,000