When the price of chocolate-covered peanuts increases from $1.55 to $2.00,the quantity demanded decreases from 220 to 180.If the price is $1.55,total revenue is _____,and if the price is $2.00,total revenue is _____.
A)$360;$440
B)$341;$279
C)$440;$279
D)$341;$360

Question

Quizplus · Accepted Answer

Total revenue is calculated by multiplying the price of the good by the quantity demanded. At $1.55, the total revenue is $1.55 * 220 = $341. At $2.00, the total revenue is $2.00 * 180 = $360.

When the Price of Chocolate-Covered Peanuts Increases from $1