-In Exhibit I-8, when the firm produces a quantity of 2, its total revenue is
A) $2
B) $12
C) $24
D) $10
E) $14

Name: -In Exhibit I-8, when the firm produces a quantity of 2, its total revenue is A) $2 B) $12 C) $24 D) $10 E) $14
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Question

-In Exhibit I-8, when the firm produces a quantity of 2, its total revenue is
A) $2 
B) $12 
C) $24 
D) $10 
E) $14

Quizplus · Accepted Answer

The total revenue is calculated by multiplying the quantity produced by the price per unit. If the firm produces a quantity of 2 and the total revenue is $24, it implies the price per unit is $12.

-In Exhibit I-8, When the Firm Produces a Quantity of 2