Exhibit 5-5 Demand Curve for Computers

question 64

Multiple Choice

Exhibit 5-5 Demand curve for computers

In Exhibit 5-5, the total revenue at point E on the demand curve equals:

• A) OD.
• B) FE.
• C) DE.
• D) ODEF.

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Definitions:

Tax

A compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization.

Unconsummated Transaction

A trade or deal that has been agreed upon in principle but has not been finalized or executed.

Levied

The act of imposing a tax, fee, or fine.

Surplus Created

The excess of production or supply over demand, resulting in a situation where the quantity of goods exceeds the quantity needed or demanded.