00:01
Consider that the quantity of milk a sold would increase by 50 % and the sales revenue of milk a would decrease by 25 % and the price is determined by the sales revenue divided by quantity.
00:35
So which of the following best describes the expected change in milk a price in april compared to march? we are given a table that shows the quantity sold, the revenue of milk a, b and c.
00:53
So for this, to determine the expected change in milk a price in april compared to march, we need to calculate the price for both months and then compare the changes.
01:04
So the price is determined by dividing revenue over quantity.
01:08
So in march, the quantity sold for milk a is 400 and the sales revenue for milk a is 2400.
01:22
So the price for milk a in march would be close to 2400 divided by 400 which is $6 per unit.
01:35
Now for april, after the changes, the quantity sold for milk a is 1 .5 times 400 because the increase in 50 % and this is equal to this increase by 50%.
02:01
So this is going to be 600...