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.

Name: 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.
Brand: Quizplus
Rating: 4.9 (33 reviews)

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, the quantity demanded is 30,000. Therefore, the total revenue will be 30,000 x $10 = $300,000.

Exhibit 5-7 Demand Curve for Concert Tickets