Exhibit 8-14
-In Exhibit 8-14, what area represents total revenue at the loss-minimizing output?

Name: Exhibit 8-14 -In Exhibit 8-14, what area represents total revenue at the loss-minimizing output?
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Question

Exhibit 8-14 -In Exhibit 8-14, what area represents total revenue at the loss-minimizing output?

Quizplus · Accepted Answer

The loss-minimizing output occurs where MC=MR, which is at point E on the graph. At this point, the revenue curve intersects the demand curve. The area of the rectangle formed by points E, F, A, and D represents total revenue at the loss-minimizing output. Therefore, the correct answer is C) 0efa.

Exhibit 8-14 -In Exhibit 8-14, What Area Represents total revenue at the revenue