Skip to main content
Microeconomics Midterm - Part 2 of 3!
SAMPLE
This is a sample practice set. In order to have a more personalized exam prep experience:
or
4. Elasticity / Total Revenue Test / Problem 21
Problem 21

A company increases the price of its product from \$40 to \$50, resulting in a decrease in quantity demanded from 500 units to 400 units. What are the price effect and quantity effect on total revenue?