-In Figure 22.1, which area represents total revenue to the drug dealer?

Name: -In Figure 22.1, which area represents total revenue to the drug dealer?
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Question

Quizplus · Accepted Answer

Total revenue for a drug dealer (or any seller) is represented by the price at which they sell the product multiplied by the quantity sold. In this context, the area under the price level (P*) and above the quantity axis, up to the quantity sold (Q*), represents total revenue. This is depicted as the area 0P*CQ*.