Graphically,total Revenue Is Represented by The

question 43

Multiple Choice

Graphically,total revenue is represented by the:

• A)triangle formed under the demand curve.
• B)rectangle formed under the demand curve at a given price and quantity combination.
• C)rectangle formed under the average-total-cost curve at a given ATC and quantity combination.
• D)line segment between the demand and average-total-cost curves at any level of output.
• E)the line segment between the horizontal axis and the average-total-cost curves at any level of output.

---

Definitions:

Decision entrapment

A situation where individuals continue to invest in a decision despite new evidence suggesting it may have been the wrong choice.

Satisficing

A decision-making strategy that involves selecting an acceptable or adequate solution, rather than the optimal one.

Escalating commitment

The phenomenon where people increase their investment or continue a course of action even if it's not leading to the desired outcome, often to justify prior investments.

Problem or opportunity

A situation that presents difficulties needing to be solved or chances that offer possibilities for positive outcomes.