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Total revenue equals Group of answer choices the area between the demand curve and the marginal...

Total revenue equals

Group of answer choices

the area between the demand curve and the marginal revenue curve

marginal revenue times quantity sold

price times quantity sold

total cost minus profit

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Homework Answers

Answer #1

Total Revenue - It refers to the total receipts from the sale of a given quantity of a good.

Total Revenue = Price x Quantity

Option 3rd is correct

1) The area between the demand curve and the marginal revenue curve does not represent the total revenue

2) Marginal revenue is the change in total revenue when additional units are sold

Marginal revenue = Change in total revenue / change in output

3) Profit = Total Revenue - Total Cost

So Total Revenue = Profit + Total Cost

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