Use the Figure Below, Which Shows a Linear Demand Curve

question 51

Multiple Choice

Use the figure below, which shows a linear demand curve and the associated total revenue curve, to answer the questions.


-The price at which total revenue is maximized is $_____.

• A) 10
• B) 15
• C) 20
• D) 25
• E) 30

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Definitions:

NAFTA

The North American Free Trade Agreement, a treaty among the United States, Canada, and Mexico that established a trilateral trade bloc in North America.

Canada

A country located in North America, known for its vast landscapes, multicultural population, and as a member of the G7, indicating its highly developed economy.

Mexico

A country located in the southern part of North America, known for its rich cultural heritage, history, and diverse landscapes.

Host-Country National

An individual who is a citizen of the country in which an international company operates, as opposed to an expatriate who originates from the company's home country.