Exhibit 5-7 Demand curve for concert tickets

-In Exhibit 5-7, if promoters charge a price of $10 per ticket, then their total revenue is:
A) $240,000.
B) $300,000.
C) $333,333.
D) $800,000.

Question

Exhibit 5-7 Demand curve for concert tickets
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-In Exhibit 5-7, if promoters charge a price of $10 per ticket, then their total revenue is:
A) $240,000. 
B) $300,000. 
C) $333,333. 
D) $800,000.

Quizplus · Accepted Answer

The total revenue is calculated by multiplying the price per ticket by the number of tickets sold. If the price is $10 per ticket, and assuming the number of tickets sold corresponds to the revenue option B, the total revenue would be $300,000.

Exhibit 5-7 Demand Curve for Concert Tickets