Based on the demand curve, the price, and the other curves, the change in total revenue if the firm raises prices from $9 to $12 is an increase of $36.
What happens to total revenue if the prices rise?
The total revenue at a price of $9 is:
= 9 x 28 units
= $252
The total revenue at a price of $12 is:
= 12 x 24 units
= $288
The change in total revenue is:
= 288 - 252
= $36
Question is:
What will happen to total revenue if the firm raises the price from $9 to $12?
Find out more on changes in total revenue at https://brainly.com/question/25623677.
