Exhibit 6-4 Refer to Exhibit 6-4.With reference to Graph A,at a price of $5,total revenue equals:
A) $200.
B) $400.
C) $500.
D) $1,000.

Name: Exhibit 6-4 Refer to Exhibit 6-4.With reference to Graph A,at a price of $5,total revenue equals: A) $200. B) $400. C) $500. D) $1,000.
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Question

Exhibit 6-4  Refer to Exhibit 6-4.With reference to Graph A,at a price of $5,total revenue equals:
A) $200. 
B) $400. 
C) $500. 
D) $1,000.

Quizplus · Accepted Answer

At a price of $5, the quantity demanded is 100 units. Therefore, total revenue equals price multiplied by quantity demanded: 5 x 100 = $500.