Use the following figure to answer the question : Figure 9-4 : shows the marginal cost curve,the average cost curve,the average variable cost curve,and the demand curve for a firm over different levels of output.The market price is $P.
-Refer to Figure 9-4.The total revenue for the firm at the output level OB is _____.
A)OVTB
B)OSGB
C)OPKB
D)GTVS

Question

Use the following figure to answer the question : Figure 9-4 : shows the marginal cost curve,the average cost curve,the average variable cost curve,and the demand curve for a firm over different levels of output.The market price is $P. 
-Refer to Figure 9-4.The total revenue for the firm at the output level OB is _____.
A)OVTB 
B)OSGB 
C)OPKB 
D)GTVS

Quizplus · Accepted Answer

At output level OB, the total revenue can be found by multiplying the output level (OB) with the market price (P). So, the total revenue is the rectangle OPKB.

Use the Following Figure to Answer the Question : Figure