if-a-company-increases-the-price-of-its-product-from-20-to-25-and-the-quantity-s

Question

If a company increases the price of its product from $$20 to 25 $$and the quantity sold decreases from 200 units to 150 units, what happens to the total revenue?

Accepted Answer

Total revenue decreases

Answer

Total revenue increases

Answer

Total revenue cannot be determined

Answer

Total revenue remains the same

If a company increases the price of its product from \$20 to \$25 and the quantity sold decreases from 200 units to 150 units, what happens to the total revenue?