FIGURE 5-2

-Refer to Figure 5-2. With reference to Graph B, at a price of $5, what is total revenue equal to?

Name: FIGURE 5-2 -Refer to Figure 5-2. With reference to Graph B, at a price of $5, what is total revenue equal to?
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Question

FIGURE 5-2
 
-Refer to Figure 5-2. With reference to Graph B, at a price of $5, what is total revenue equal to?

Quizplus · Accepted Answer

At a price of $5, the quantity demanded is 40. Total revenue is calculated by multiplying the price by the quantity demanded. Therefore, total revenue is equal to $5 times 40, which equals $200.

FIGURE 5-2 -Refer to Figure 5-2. with Reference to Graph B, at to Graph