Refer to the information provided in Figure 13.3 below to answer the question(s) that follow. Figure 13.3
-Refer to Figure 13.3. This firm's ________ will be maximized at a price of $10.
A) marginal cost
B) total revenue
C) marginal revenue
D) profit

Question

Refer to the information provided in Figure 13.3 below to answer the question(s) that follow.  Figure 13.3
-Refer to Figure 13.3. This firm's ________ will be maximized at a price of $10.
A) marginal cost 
B) total revenue 
C) marginal revenue 
D) profit

Quizplus · Accepted Answer

Total revenue is maximized at the price where the product of price and quantity sold is highest, which is typically at the midpoint of a linear demand curve.

Refer to the Information Provided in Figure 13