A firm derives revenue from two sources: goods X and Y. Annual revenues from good X and Y are $10,000 and $20,000, respectively. If the price elasticity of demand for good X is 4.0 and the cross-price elasticity of demand between Y and X is 2.0, then a 2 percent decrease in the price of X will

Multiple Choice

• leave total revenues from X and Y unchanged.
• decrease total revenues for X and Y by $600.
• increase total revenues from X and Y by $520.
• decrease total revenues from X and Y by $200.