Figure 5-8. A demand curve is shown on the graph below. On the graph, Q represents quantity demanded and P represents price.

-Refer to Figure 5-8.At a price of $48 per unit,sellers' total revenue amounts to
A)$150.
B)$200.
C)$288.
D)$364.

Question

Figure 5-8. A demand curve is shown on the graph below. On the graph, Q represents quantity demanded and P represents price.
 
-Refer to Figure 5-8.At a price of $48 per unit,sellers' total revenue amounts to
A)$150. 
B)$200. 
C)$288. 
D)$364.

Quizplus · Accepted Answer

To calculate total revenue, we multiply the price by the quantity demanded. At a price of $48, the quantity demanded is 6, so total revenue is $288 (48 x 6). Therefore, the correct answer is C.