Use the following to answer questions:
Figure: The Demand for Notebook Computers
-(Figure: Demand for Notebook Computers) Look at the figure The Demand for Notebook Computers. Total revenue at point V equals the:
A) area 0TVN.
B) area 0PSVN.
C) distance 0T.
D) distance NV.

Question

Use the following to answer questions:
Figure: The Demand for Notebook Computers 
-(Figure: Demand for Notebook Computers) Look at the figure The Demand for Notebook Computers. Total revenue at point V equals the:
A) area 0TVN. 
B) area 0PSVN. 
C) distance 0T. 
D) distance NV.

Quizplus · Accepted Answer

Total revenue is calculated as price times quantity. At point V, the total revenue is represented by the area under the demand curve up to point V, which is area 0TVN.

Use the Following to Answer Questions