Sally runs a vegetable stand. The following table shows two points on the demand curve for the
Question:
Price Quantity Demanded per Week
$5.00..................................................100,000
$3.25..................................................200,000
a. What would Sally's marginal revenue be from lowering the price of tomatoes from $5.00 to $3.25?
b. Calculate the output effect and the price effect from lowering the price to $3.25.
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a Sallys revenue from selling 100000 tomatoes at 500 each is 500000 Her revenue from s...View the full answer
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