can anyone draw a diagram based on this text i need it ASAP will give 100 and Brainliest
In the above diagram, the initial total revenue is area A plus area B and the new total revenue is area B plus area C. Area C is the gain in revenue resulting from the increase in the quantity demanded (Q) from Q0 to Q1 and area A is the loss in revenue resulting from the fall in the price (P) from P0 to P1. Since area C is greater than area A, the gain in revenue exceeds the loss and hence the total revenue rises.