Total revenue represents the amount that:
A)sellers receive for a good or service which is computed as P÷Q.
B)sellers receive for a good or service which is computed as PxQ.
C)one buyer spends on a good or service which is computed as PxQ.
D)one buyer spends on a good or service which is computed as P÷Q.
E)one buyer spends on a good or service which is computed as Q÷P.

Question

Quizplus · Accepted Answer

Total revenue is the amount of money received by sellers for the sale of a good or service. It is calculated by multiplying the price (P) of the good by the quantity (Q) sold, giving us the formula of PxQ.

Total Revenue Represents the Amount That