Solved: What happens to total revenue if the price falls from 400, Microeconomics

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What happens to total revenue if the price falls from 400

Question: a. What happens to total revenue if the price falls from $400 to $350 a chip and from $350 to $300 a chip?

b. At what price is total revenue at a maximum?

Price (dollars per chip) Quantity supplied
(millions of chips per year)

200 50

250 45

300 40

350 35

400 30

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Microeconomics: What happens to total revenue if the price falls from 400

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Microeconomics: What happens to total revenue if the price falls from 400

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