Price of Good X(Px)Quantity of Good X(Qx)Own Price ElasticityTotal Revenue01000.000590-0.11450A80-0.258001570-0.4310502060-0.6712002550C125030B-1.5012003530-2.3310504020-4.00D4510-9.00450500-?0The demand function in the accompanying table is QXd = 100 ? 2PX. Based on this information, compute the total revenue when QX = 20 (point D).

The demand for most farm products is relatively inelastic. All else constant, what is the effect on farm revenues as a result of the introduction of new and better farm equipment which increases productivity?

A) Farm revenues could increase or decrease depending on the cost of this new equipment. B) Farm revenues remain constant because consumers will not increase their consumption of farm products by much. C) Farm revenues increase. D) Farm revenues decrease.

The standard deviation of the error terms in an estimated regression equation is known as:

a. coefficient of determination b. correlation coefficient c. Durbin-Watson statistic d. standard error of the estimate e. none of the above