Consider the following demand and supply schedules for some agricultural commodity.
TABLE 5-2
-Refer to Table 5-2.Total farmers' revenue under the free-market equilibrium is
A)$3000.
B)$15 000.
C)$35 000.
D)$63 000.
E)$75 000.

Question

Consider the following demand and supply schedules for some agricultural commodity.
  TABLE 5-2
-Refer to Table 5-2.Total farmers' revenue under the free-market equilibrium is
A)$3000. 
B)$15 000. 
C)$35 000. 
D)$63 000. 
E)$75 000.

Quizplus · Accepted Answer

The total farmers' revenue under the free-market equilibrium is calculated by multiplying the equilibrium price by the equilibrium quantity. The correct choice is based on the data provided in Table 5-2, which indicates that the equilibrium price and quantity result in a revenue of $35,000.

Consider the Following Demand and Supply Schedules for Some Agricultural