The following table shows the quantity demanded of a good at two different prices. Refer to the table to answer the question. Price Quantity £10 25 £20 20 When the price of the good increases to £20, the total revenue earned _____.
A) increases by £150
B) decreases by £100
C) remains constant
D) decreases by £50

Question

Quizplus · Accepted Answer

At £10, the total revenue is £10 * 25 = £250. At £20, it's £20 * 20 = £400. The increase in total revenue is £400 - £250 = £150.

The Following Table Shows the Quantity Demanded of a Good