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lubasha [3.4K]
2 years ago
12

A monopolist sells 6 units of a product per day at a unit price of $15. if it lowers price to $14, its total revenue increases b

y $22. this implies that its sales quantity increases by
Business
1 answer:
grandymaker [24]2 years ago
5 0
<span>A monopolist sells 6 units of a product per day at a unit price of $15. if it lowers price to $14, its total revenue increases by $22. this implies that its sales quantity increases by: 8 units. 

To solve for the original sales amount: (6 units)($15) = $90
Next find the new unit amount: (8 units)($14) = $112

The difference between these two is a $22 sales increase which means to have the difference in sales be $22 there were 8 units sold instead of 6 units. 

</span>
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