Suppose the figure to the right illustrates the monthly demand for imported rugs ata local rug gallery. Suppose the price of rugs increases from $5,500 to $6,500.10,0009,000-Total revenue before the price change is S (Enter your response as an integer.)Total revenue after the price change is $(Enter your response as an integer.)8,000-7,000-The change in total revenue is $include a minus sign if appropriate,)(Enter your response as an integer and6,000-The demand for imported rugs at this rug gallery isV over the given5,000-price range.4,000-3,000-Demand2,000-1,000-0-10 20 3040 50 G070 8090 100OuantiRent (dollars per month)U U U

Total revenue before the price change is $ (Enter your response as an inter Total revenue after the price change is $. (Enter your response as an intege The change in total revenue is $ (Enter your response as an integer and include a minus sign if appropriate.) The demand for imported rugs at this rug gallery is price range. over the giver

Total revenue before the price change is $ (Enter your response as an inter Total revenue after the price change is $. (Enter your response as an intege The change in total revenue is $ (Enter your response as an integer and include a minus sign if appropriate.) The demand for imported rugs at this rug gallery is price range. over the giver

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter4: Demand, Supply, And Market Equilibrium

Section: Chapter Questions

Problem 7P

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