The figure given below shows the demand curve faced by a firm. Figure 24.1 Refer to Figure 24.1 and calculate the revenue lost when the firm lowers the price of its product from $8 to $4.
A)$20
B)$18
C)$24
D)$16
E)$28

Question

The figure given below shows the demand curve faced by a firm. Figure 24.1  Refer to Figure 24.1 and calculate the revenue lost when the firm lowers the price of its product from $8 to $4.
A)$20 
B)$18 
C)$24 
D)$16 
E)$28

Quizplus · Accepted Answer

The Answer of The figure given below shows the demand curve faced by a firm. Figure 24.1  Refer to Figure 24.1 and calculate the revenue lost when the firm lowers the price of its product from $8 to $4.
A)$20 
B)$18 
C)$24 
D)$16 
E)$28

The Figure Given Below Shows the Demand Curve Faced by a Firm