Refer to Figure 15.1. If Dom's Barber Shop is maximizing profit, its total revenue equals

A) $200.
B) $320.
C) $350.
D) $360.

Question

Refer to Figure 15.1. If Dom's Barber Shop is maximizing profit, its total revenue equalsA)  $200.B)  $320.C)  $350.D)  $360.

Rachel Matey · Accepted Answer

Final Answer : B, Explanation :  If Dom's Barber Shop is maximizing profit, it will produce at the quantity where marginal cost equals marginal revenue. The total revenue is calculated by multiplying the price per unit by the quantity sold at this point. Based on the given options, $320 is the correct total revenue when profit is maximized.

Refer to Figure 15.1. If Dom's Barber Shop is maximizing profit, its total revenue equals

A) $200.
B) $320.
C) $350.
D) $360.

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Learning Objectives

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