The figure above shows some of a firm's cost curves and its marginal revenue curve.
-The firm in the figure above has a total revenue equal to ________.
A) $5.10 × 10
B) $8.00 × 10
C) ($5.10 - $8.00) × 10
D) ($8.00 - $5.10) × 10
E) None of the above answers is correct because more information is needed.

Question

The figure above shows some of a firm's cost curves and its marginal revenue curve.
-The firm in the figure above has a total revenue equal to ________.
A) $5.10 × 10 
B) $8.00 × 10 
C) ($5.10 - $8.00) × 10 
D) ($8.00 - $5.10) × 10 
E) None of the above answers is correct because more information is needed.

Quizplus · Accepted Answer

Total revenue is calculated by multiplying the price per unit by the quantity sold. If the price is $8.00 and the quantity is 10, then total revenue is $8.00 × 10.

The Figure Above Shows Some of a Firm's Cost Curves