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A company decreases the price of its product from \$30 to \$25, and total revenue increases. What should the company do to maximize revenue?
What does the total revenue test indicate if total revenue increases when price decreases?
If a company decreases the price of its product and observes an increase in total revenue, what can be inferred about the demand elasticity?
A company increases the price of its product from \$45 to \$55, resulting in a decrease in quantity demanded from 700 units to 600 units. What are the price effect and quantity effect on total revenue?
A company increases the price of its product from \$15 to \$20, and total revenue decreases. What should the company do to maximize revenue?
A company raises its product price from \$30 to \$35, causing quantity demanded to drop from 600 units to 500 units. Which effect is greater, price effect or quantity effect?
A company raises its product price from \$25 to \$30, causing quantity demanded to drop from 800 units to 600 units. Which effect is greater, price effect or quantity effect?
A bookstore reduces the price of its best-selling novel from \$20 to \$15, and sales increase from 100 to 150 copies per week. What can be inferred about the elasticity of demand for the novel?
What is the price effect in the context of total revenue?
What does the total revenue test indicate if total revenue decreases when price increases?