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  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

At a price of $10 per ticket, the concert promoters would sell 30,000 tickets (point on the demand curve where price is $10). Therefore, their total revenue would be $300,000 (30,000 tickets x $10 per ticket).

Exhibit 5-7 Demand Curve for Concert Tickets in Exhibit 5-7