The Total Revenue Received by Sellers of a Good Is

question 246

Multiple Choice

The total revenue received by sellers of a good is the same amount as the

• A)total income earned by the buyers.
• B)total amount spent on the good by the buyers.
• C)price paid by the buyers for each unit of the good.
• D)profits earned by the sellers of the good.

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Definitions:

Gatorade

A brand of sports drinks that is marketed to hydrate and replenish electrolytes in athletes and active individuals.

Need

A basic requirement or necessity for survival or achieving a particular outcome.

Want

An expressed desire or wish for something that is not necessary for survival but may enhance the quality of life or provide satisfaction in some way.

Place

In marketing, refers to the distribution aspect and making the product available to the customer at the right location.