The figure given below shows the demand curve faced by a firm.Figure 11.1

-Refer to Figure 11.1 and calculate the loss of revenue incurred by the firm when it reduces the price of its product from $8 to $4.
A)$4
B)$8
C)$32
D)$16
E)$10

Question

The figure given below shows the demand curve faced by a firm.Figure 11.1
 
-Refer to Figure 11.1 and calculate the loss of revenue incurred by the firm when it reduces the price of its product from $8 to $4.
A)$4 
B)$8 
C)$32 
D)$16 
E)$10

Quizplus · Accepted Answer

The Answer of The figure given below shows the demand curve faced by a firm.Figure 11.1
 
-Refer to Figure 11.1 and calculate the loss of revenue incurred by the firm when it reduces the price of its product from $8 to $4.
A)$4 
B)$8 
C)$32 
D)$16 
E)$10

The Figure Given Below Shows the Demand Curve Faced by a Firm.Figure