Total revenue equals
A) price per unit times quantity sold.
B) price per unit times quantity supplied.
C) price per unit times change in quantity sold.
D) change in price per unit times quantity sold.
Answer: A
You might also like to view...
Car A gets 20 miles per gallon, and sells for $17,000. Car B gets 40 miles per gallon, and sells for $34,000. In the economic way of thinking, which car is more efficient?
A) Car A B) Car B C) Both are equally efficient. D) It depends on the car buyer's estimate of cost and benefit. E) It depends on a number of statistical tests done by economists, the results of which are not stated in the question.
At the beginning of the fall semester, college towns experience large increases in their populations, causing a(n):
A. decrease in the quantity of apartments supplied. B. increase in the demand for apartments. C. increase in the supply of apartments. D. decrease in the quantity of apartments demanded.
Which of the following was established first?
a. gatt b. nafta c. wto d. a and b were established at the same time
If the economy is in a boom, the implementation lag is generally shorter for fiscal policy than for monetary policy, but if the economy is in a slump, the implementation lag is generally shorter for monetary policy than for fiscal policy.
Answer the following statement true (T) or false (F)