In any market, total revenue is the price:
A)divided by the price elasticity of demand
B)multiplied by the quantity
C)plus the quantity
D)multiplied by the quantity minus the costs of production

Question

Quizplus · Accepted Answer

Total revenue in any market is calculated by multiplying the price by the quantity sold. Therefore, the correct choice is B, which states that total revenue is multiplied by the quantity.

In Any Market, Total Revenue Is the Price