Refer to Figure 5-3. At a price of $60 per unit, sellers' total revenue equals

A) $1,000.
B) $1,200.
C) $1,400.
D) $1,160.

Question

Refer to Figure 5-3. At a price of $60 per unit, sellers' total revenue equalsA) $1,000.B) $1,200.C) $1,400.D) $1,160.

Wanjiru randolph · Accepted Answer

Final Answer : B, Explanation :  Total revenue is calculated by multiplying the price per unit by the quantity sold. If the price is $60 per unit, and assuming the quantity sold is 20 units (as typically depicted in such figures), the total revenue would be $60 * 20 = $1,200.

Refer to Figure 5-3. At a price of $60 per unit, sellers' total revenue equals

A) $1,000.
B) $1,200.
C) $1,400.
D) $1,160.

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