Say the demand curve for cigarettes was given by Q = 164 - 0.38P. When P = 20, a further increase in the price will
A. decrease total revenue.
B. leave total revenue the same.
C. increase total revenue.
D. we can't answer with the information given.
Answer: A
You might also like to view...
Fundamentally, economics deals with
a. scarcity. b. money. c. poverty. d. banking.
A firm is producing output less than the output associated with the minimum point on the firm's short run average variable cost curve. At this level of output the firm uses its fixed capital input ________ and its variable labor input ________.
A. at a level higher than the lowest average cost; at a level higher than the lowest average cost B. at the lowest average cost; at the lowest average cost C. at the lowest average cost; at a level higher than the lowest average cost D. at a level higher than the lowest average cost; at the lowest average cost