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Ch. 4 - ElasticityWorksheetSee all chapters

# Total Revenue Test

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Sections
Percentage Change and Price Elasticity of Demand
Elasticity and the Midpoint Method
Price Elasticity of Demand on a Graph
Determinants of Price Elasticity of Demand
Total Revenue Test
Total Revenue Along a Linear Demand Curve
Income Elasticity of Demand
Cross-Price Elasticity of Demand
Price Elasticity of Supply
Price Elasticity of Supply on a Graph
Elasticity Summary

Concept #1: Total Revenue Test

Practice: The following demand schedule relates to the market for computer chips. What happens to total revenue if the price falls from $400 to$350?

Practice: A price change causes the quantity demanded of a good to decrease by 20 percent, while the total revenue increased by 10 percent. The demand curve is: