Table 7.1
-Refer to Table 7.1, which shows the relationship between the price that Gladys charges for a product and the quantity of that product that Gladys sells. The total revenue that Gladys receives from selling four units of output is
A) $4.
B) $6.
C) $10.
D) $24.

Question

Table 7.1
-Refer to Table 7.1, which shows the relationship between the price that Gladys charges for a product and the quantity of that product that Gladys sells. The total revenue that Gladys receives from selling four units of output is
A) $4. 
B) $6. 
C) $10. 
D) $24.

Quizplus · Accepted Answer

To calculate total revenue, we multiply the price per unit by the quantity sold.

For the first unit, Gladys charges $6 and sells 1 unit, so her revenue is $6 x 1 = $6.

For the second unit, Gladys charges $5 and sells 2 units, so her revenue is $5 x 2 = $10.

For the third unit, Gladys charges $4 and sells 3 units, so her revenue is $4 x 3 = $12.

For the fourth unit, Gladys charges $3 and sells 4 units, so her revenue is $3 x 4 = $12.

So total revenue for selling four units is $6 + $10 + $12 + $12 = $40.

Therefore, the correct answer is D, $24.

Table 7.1 -Refer to Table 7.1, Which Shows the Relationship Between the Between