Use the following to answer question:
-(Figure: The Demand Curve)Use Figure: The Demand Curve.If the price is $3,total revenue is _____.If the price is $4,total revenue is _____.
A)$21;$24
B)$21;$18
C)$12;28
D)$7;$13

Question

Use the following to answer question: 
-(Figure: The Demand Curve)Use Figure: The Demand Curve.If the price is $3,total revenue is _____.If the price is $4,total revenue is _____.
A)$21;$24 
B)$21;$18 
C)$12;28 
D)$7;$13

Quizplus · Accepted Answer

Total revenue is equal to price times quantity. At a price of $3, the quantity demanded is 7 units, so total revenue is $3 x 7 = $21. At a price of $4, the quantity demanded is 6 units, so total revenue is $4 x 6 = $24.

Use the Following to Answer Question