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Total revenue increases to [ (original) x (1.45) x (1.53) ] = original x 2.2185 = 121.85% increase

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4y ago

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Q: If you increase price by 45 percent and quantity increases by 53 percent?
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Related questions

What happens if demand and supply increase?

the price and value of the item will decrease.


What causes an increase in the quantity supplied?

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How does the equilibrium price and quantity change when both the demand and supply curves shift simultaneously?

When both the demand and supply curves shift simultaneously, the equilibrium price and quantity will change. If demand increases more than supply, the price will rise and the quantity exchanged will increase. If supply increases more than demand, the price will fall and the quantity exchanged will increase. The exact changes depend on the magnitude of the shifts in the curves.


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Goods that have an increase in quantity demanded in response to an increase in price are called Giffen goods. Evidence of the existence of Giffen goods is extremely limited and there are no known examples of Giffen goods.


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When the supply of a good increases, it typically leads to a decrease in the price of the good and an increase in the quantity supplied. This can shift the market equilibrium point to a lower price and a higher quantity traded.