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amid [387]
3 years ago
8

A monopolist can sell 26,000 units at a price of $30 per unit. lowering price by $1 raises the quantity demanded by 1,000 units.

what is the change in total revenue resulting from this price change?
a. $1,500
b. $3,000
c. $5,500
d. -$2,800
Business
1 answer:
Nutka1998 [239]3 years ago
7 0
If he sells the shares at 30 per unit, the equation would be:
30*26000=780000

If he lowers the price to 29 per unit and ups the demand by 1k, it would be:
29*27000=783000

The resulting change would net him an additional 3000 dollars, so your answer would be B.
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