Graph 14-6

This graph depicts the cost structure of a firm in a competitive market. Use the graph to answer the following question(s) .
-Refer to Graph 14-6. When market price is P₁, a profit-maximising firm's total revenue can be represented by the area:

Question

Graph 14-6
Graph 14-6 This graph depicts the cost structure of a firm in a competitive market. Use the graph to answer the following question(s) . -Refer to Graph 14-6. When market price is P1, a profit-maximising firm's total revenue can be represented by the area: A) P3 * Q2 B) P1 * Q3 C) P1 * Q2 D) P2 * Q2

Graph 14-6 This graph depicts the cost structure of a firm in a competitive market. Use the graph to answer the following question(s) . -Refer to Graph 14-6. When market price is P<sub>1</sub>, a profit-maximising firm's total revenue can be represented by the area: A) P<sub>3</sub> * Q<sub>2</sub> B) P<sub>1</sub> * Q<sub>3</sub> C) P<sub>1</sub> * Q<sub>2</sub> D) P<sub>2</sub> * Q<sub>2</sub>

This graph depicts the cost structure of a firm in a competitive market. Use the graph to answer the following question(s) .
-Refer to Graph 14-6. When market price is P₁, a profit-maximising firm's total revenue can be represented by the area:

Quizplus · Accepted Answer

The total revenue can be represented by the rectangular area of P₁ as the height and Q₂ as the width. Therefore, the answer is P₁ F1F1F1S1×F1F1F10 Q₂. Option A and B have the wrong height and Option D has the wrong width.

Graph 14-6 This Graph Depicts the Cost Structure of a Firm in Structure