-The above table gives the demand schedule for apples. If the price of a kilogram of apples falls from $3 to $1, what is the change in the apple seller's total revenue?
A) $42
B) - $24
C) - $2
D) $24

Question

-The above table gives the demand schedule for apples. If the price of a kilogram of apples falls from $3 to $1, what is the change in the apple seller's total revenue?
A) $42 
B) - $24 
C) - $2 
D) $24

Quizplus · Accepted Answer

The total revenue is calculated by multiplying the price by the quantity demanded. If the price falls from $3 to $1, the change in total revenue is calculated by finding the difference between the total revenue at $3 and at $1. The negative sign indicates a decrease in total revenue.

-The Above Table Gives the Demand Schedule for Apples