Answer to Question #150244 in Economics for Maira Khan

Question #150244

3.If the price of corn decreased from $4.00 to $3.00 a bushel, what would be the change in total revenue for sellers of corn?

Expert's answer

Total change of revenue in this case will depend on the number of corn pieces sold by a farmer:

delta = ($4 x sales volume) - ($3 x sales volume)

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