In 2016, a firm produced 100 units of good X at $1. In 2017, the firm produced 200 units of good X at $0.5. Between 2016 and 2017, the total revenue of producing good X
A)stayed constant
B)increased.
C)might increase, decrease, or stay constant.
D)decreased.
E)was equal to zero.

Question

Quizplus · Accepted Answer

The total revenue in both years is $100 (100 units * $1 in 2016 and 200 units * $0.5 in 2017), so it stayed constant.

In 2016, a Firm Produced 100 Units of Good X