Figure 6-8

-Libya sold more crude oil in 1985 than it sold five years earlier, but revenues were 17 percent less.Which graph in Figure 6-8 is consistent with this set of facts?
A)1
B)2
C)3

Question

Figure 6-8
 
-Libya sold more crude oil in 1985 than it sold five years earlier, but revenues were 17 percent less.Which graph in Figure 6-8 is consistent with this set of facts?
A)1 
B)2 
C)3

Quizplus · Accepted Answer

Graph 3 shows an increase in quantity sold (volume) but a decrease in revenue (price) which is consistent with the given set of facts. The other graphs do not show a decrease in revenue, indicating that they are not consistent with the given set of facts.

Figure 6-8 -Libya Sold More Crude Oil in 1985 Than It Sold