When the price of profiteroles increases from $1.55 to $2.00, the quantity demanded of profiteroles decreases from 220 pastries to 180 pastries. If the price is $1.55, total revenue is _____, and if the price is $2.00, total revenue is _____.
A)$360; $440
B)$341; $279
C)$440; $279
D)$341; $360

Question

Quizplus · Accepted Answer

Total revenue is calculated by multiplying the price by the quantity demanded. At $1.55, total revenue is $1.55 * 220 = $341. At $2.00, total revenue is $2.00 * 180 = $360.

When the Price of Profiteroles Increases from $1