Total revenue can be defined as:
A) average revenue multiplied by marginal revenue.
B) average revenue divided by marginal revenue.
C) average revenue multiplied by output.
D) average revenue divided by output.
E) marginal revenue divided by output.

Question

Quizplus · Accepted Answer

Total revenue is equal to average revenue multiplied by output. This formula can be derived by multiplying the price per unit (average revenue) with the quantity sold (output).

Total Revenue Can Be Defined As