2. (a) Osing the above diagram, assume that the seller of X increases the price from...

  

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2. (a) Osing the above diagram, assume that the seller of X increases the price from $1.50 to $2.00, and this results in an increase in total revenue, Which of the graphs represents the demand curve for X? Explain. (b) Now assume the three diagrams represent the demand conditions for three different products. You are head of your corporation's pricing policy committee. In that the three diagrams represent three different demand conditions faced by your company for each of the three different demand conditions, what are you going to recommend as to increasing and/or decreasing product prices for each product. Explain. Price of X Price of X Price of x 2 00 200 150 200 150 150 1 00 100- i io 100- 90 100 Ouantity of X (21 75 100 50 Ouantity of X (1) 100 Ouantity of X (3) 2. (a) Osing the above diagram, assume that the seller of X increases the price from $1.50 to $2.00, and this results in an increase in total revenue, Which of the graphs represents the demand curve for X? Explain. (b) Now assume the three diagrams represent the demand conditions for three different products. You are head of your corporation's pricing policy committee. In that the three diagrams represent three different demand conditions faced by your company for each of the three different demand conditions, what are you going to recommend as to increasing and/or decreasing product prices for each product. Explain. Price of X Price of X Price of x 2 00 200 150 200 150 150 1 00 100- i io 100- 90 100 Ouantity of X (21 75 100 50 Ouantity of X (1) 100 Ouantity of X (3)

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Solution 2a Figure two represents a demand curve for X Explanation With price increase the total rev... View the full answer