To answer the question,refer to the following table showing a demand schedule: If price falls from $200 to $150,
A)arrows representing the price and quantity effects both point down.
B)an arrow representing the price effect points down and is longer than an arrow for the quantity effect.
C)an arrow representing the quantity effect points up and is shorter than an arrow for the price effect.
D)arrows representing the price and quantity effects both point up.
E)total revenue moves in the same direction as the arrow representing the quantity effect.

Question

To answer the question,refer to the following table showing a demand schedule:  If price falls from $200 to $150,
A)arrows representing the price and quantity effects both point down. 
B)an arrow representing the price effect points down and is longer than an arrow for the quantity effect. 
C)an arrow representing the quantity effect points up and is shorter than an arrow for the price effect. 
D)arrows representing the price and quantity effects both point up. 
E)total revenue moves in the same direction as the arrow representing the quantity effect.

Quizplus · Accepted Answer

The Answer of To answer the question,refer to the following table showing a demand schedule:  If price falls from $200 to $150,
A)arrows representing the price and quantity effects both point down. 
B)an arrow representing the price effect points down and is longer than an arrow for the quantity effect. 
C)an arrow representing the quantity effect points up and is shorter than an arrow for the price effect. 
D)arrows representing the price and quantity effects both point up. 
E)total revenue moves in the same direction as the arrow representing the quantity effect.

To Answer the Question,refer to the Following Table Showing a Demand