Total Revenue

question 62

Multiple Choice

Total revenue

• A)can be calculated directly from the demand curve.
• B)can be calculated directly from the average revenue curve.
• C)is found by multiplying price times quantity.
• D)All of the above are correct.

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Definitions:

Tax

a financial charge or other levy imposed upon a taxpayer by a governmental organization in order to fund public expenditures.

Tax Avoidance

The legal practice of arranging one's financial affairs to minimize tax liability within the law.

Tax Evasion

The illegal practice of not paying taxes by individuals or corporations through various methods, including underreporting income.

Legal

Pertains to the system of rules that a particular country or community recognizes as regulating the actions of its members and may enforce by the imposition of penalties.