Consider a market in which price is initially $2 and rises to $6. If we know total revenue fell as a result of this price change, then we also know that the _____ effect outweighed the _____ effect, and the market is more likely to be represented by _____.
A) price; quantity; Graph A
B) quantity; price; Graph A
C) price; quantity; Graph B
D) quantity; price; Graph B

Question

Consider a market in which price is initially $2 and rises to $6. If we know total revenue fell as a result of this price change, then we also know that the _____ effect outweighed the _____ effect, and the market is more likely to be represented by _____.
A) price; quantity; Graph A 
B) quantity; price; Graph A 
C) price; quantity; Graph B 
D) quantity; price; Graph B

Quizplus · Accepted Answer

The Answer of  Consider a market in which price is initially $2 and rises to $6. If we know total revenue fell as a result of this price change, then we also know that the _____ effect outweighed the _____ effect, and the market is more likely to be represented by _____.
A) price; quantity; Graph A 
B) quantity; price; Graph A 
C) price; quantity; Graph B 
D) quantity; price; Graph B

Consider a Market in Which Price Is Initially $2 and Rises