Q P TR AR MR 110 $2,150 $236,500 $2,150 $2,150 220 $1,950 A $1,950 B 330 $1,750 $577,500 C $1,350 440 $1,550 D $1,550 E Table 1.5   In Table 1.5, C is $_______

If total revenue rises as price rises, then the demand for the product is _________________ (elastic, inelastic).

Total revenue increases if price ________ and demand is ________.

Q P TR AR MR 6 $2,050 $12,300 $2,050 $2,050 12 $1,950 A $1,950 B 18 $1,850 $33,300 C $1,650 24 $1,750 D $1,750 E Table 1.3   In Table 1.3, E is $______

Q P TR AR MR 110 $2,150 $236,500 $2,150 $2,150 220 $1,950 A $1,950 B 330 $1,750 $577,500 C $1,350 440 $1,550 D $1,550 E Table 1.5   In Table 1.5, B is $________

When firms collude, they usually do so to

When there are more substitutes for a product, the ________ for the product is ________.

When the price of coffee decreases 5%, quantity demanded increases 5%. The price elasticity of demand for coffee is ________ and total revenue from coffee sales will ________.

DeBeers’ diamond monopoly results from

Individual sellers in a commodity market are called