Total Revenue Equals

question 130

Multiple Choice

Total revenue equals

• A) price multiplied by quantity sold.
• B) total cost minus profit.
• C) the area between the demand curve and the marginal revenue curve.
• D) marginal revenue multiplied by quantity sold.

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Definitions:

Overall Market

Overall market refers to the combined marketplace of all buyers and sellers in a given sector or industry, often considered in terms of total sales, demand, or size.

Market Share

The portion of a market controlled by a particular company or product, often expressed as a percentage.

Margin

The difference between the selling price of a product or service and the cost associated with producing it, usually expressed as a percentage of sales.

Marginal Subcontracting Cost

The additional cost incurred for each unit of production outsourced to a third party, rather than produced in-house.