FIGURE 5-2

-Refer to Figure 5-2. With reference to Graph A, at a price of $10, what is total revenue equal to?
A) $200
B) $400
C) $500
D) $1000

Name: FIGURE 5-2 -Refer to Figure 5-2. With reference to Graph A, at a price of $10, what is total revenue equal to? A) $200 B) $400 C) $500 D) $1000
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Question

FIGURE 5-2
 
-Refer to Figure 5-2. With reference to Graph A, at a price of $10, what is total revenue equal to?
A) $200 
B) $400 
C) $500 
D) $1000

Quizplus · Accepted Answer

Total revenue is calculated by multiplying the price per unit by the quantity sold. At a price of $10, the quantity sold is 40 units (as seen on the graph). Therefore, total revenue = $10 * 40 = $400.

FIGURE 5-2 -Refer to Figure 5-2. with Reference to Graph A, at to Graph