A firm's total revenue can be determined by
A)Price times quantity.
B)Profits minus costs.
C)Total costs minus variable costs.

Name: A firm's total revenue can be determined by A)Price times quantity. B)Profits minus costs. C)Total costs minus variable costs.
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Question

Quizplus · Accepted Answer

Total revenue is calculated by multiplying the price at which a firm sells a product or service by the quantity sold. Mathematically, Total Revenue (TR) = Price (P) x Quantity (Q).

A Firm's Total Revenue Can Be Determined by