Question
The picture depicts a graph with P on the y-axis and Q on the x-axis. A single demand curve is drawn. The y-axis is marked
The picture depicts a graph with P on the y-axis and Q on the x-axis. A single demand curve is drawn. The y-axis is marked in half unit intervals, from 0 to 3.00. The x-axis is marked in whole units, from 0 to 12. The demand curve is marked at every half unit on the y-axis. Each half unit on the y-axis translates to two whole units on the x-axis (i.e. x=0 y=3.00, x=2 y=2.50, x=4 y=2.00, etc) Consider the figure above. Lowering price from $2.00 to $1.50 would
Group of answer choices
A. increase total revenue by $1
B. decrease total revenue by $1
C. leave total revenue unchanged
D. increase total revenue by $4
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