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Homework answers / question archive / Consider the following table showing quantity demanded for a commodity at different prices

Consider the following table showing quantity demanded for a commodity at different prices

Economics

Consider the following table showing quantity demanded for a commodity at different prices.

 

Price Quantity
$400 600
$350 1200
$200 1800

If price falls from $400 to $350: (a.) arrows representing the price and quantity effects both point up; (b.) an arrow representing the price effect points up and is shorter than an arrow for the quantity effect; (c.) total revenue moves in the same direction as the arrow representing the price effect; (d.) the arrow representing the price effect points down and the arrow representing the quantity effect points up; both (c.) and (d.).

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