Help with economics question :)
I wasnt sure how to draw up this table. I know that
total revenue= price x quantity
However Im having troubles with how to start off drawing the table. i.e what figures to use for this question. any help would be appreciated :)
Assume that children’s advocates have been successful in imposing restrictions on the amount of commercials for junk food that can be aired during children's television shows. In fact, the restrictions have initially reduced the quantity of advertising allowed during children's viewing hours by 33 percent. In the months following the restrictions, the price of a minute of advertising on network television increased by approximately 14 percent.
What impact do you think this situation has had on the total revenues of the television networks?