In the diagram below, draw the price effect and the quantity effect for a price change from $60 t… 1 answer below »

In the diagram below, draw the price effect and the quantity
effect for a price change from $60 to $50.

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In the diagram below, draw the price effect and the quantity effect for a price change from $60 t… 1 answer below »
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Instructions: Use the tools provided to draw the
price effect (Pr Eff) and quantity effect (Q Eff) for this price
change.

Price ($) 90 80 70 60 50 40 30 20 Tools Pr Eff Q Eff 10 2030 40 50 Quantity

Based on the graph, the  (Click to select) (quantity
effec/ price effect) is larger.

Based on the graph, total revenue  (Click to select) (
stays the same /increases /decreases)

Price ($) 90 80 70 60 50 40 30 20 Tools Pr Eff Q Eff 10 2030 40 50 Quantity