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Edexcel A-Level Economics Calculate Total Revenue

Practise Edexcel A-Level Economics total revenue calculations by using price and quantity changes from demand diagrams to judge revenue effects.

Syllabus
First assessment 2019
Course
Economics YEC11
Level
AS

Exam points

  • Calculate total revenue before and after a price change using price multiplied by quantity.
  • Use demand-curve data to decide whether total revenue rises or falls after the price changes.

1.3.2.3e - calculate total revenue question 1

[Maximum number: 1]

The diagram shows the demand curve for a chocolate bar in Spain.

Figure for Question 1.3.2.3e - calculate total revenue question 1 — Edexcel A-Level Economics AS

Retailers reduce the price of the chocolate bar from €1.50 to €1.30.
Which one of the following can be deduced from the diagram?

A

Total revenue will rise by € 13500

B

Total revenue will rise by € 58500

C

Total revenue will decrease by €6000

D

Total revenue will decrease by €45000

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