Total Revenue Is Equal to

question 121

Multiple Choice

Total revenue is equal to

• A)the amount of funds earned by a firm minus its costs of production.
• B)the total quantity sold of a product over a given period of time.
• C)the price of a product multiplied by the number of units of the product sold.
• D)the monetary value of the capital (for example, plant and equipment)a firm owns.

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Definitions:

Benefits of Scale

Advantages obtained from expanding the size of operations, which often lead to reduced costs per unit.

Undifferentiated Marketing

A marketing strategy that does not segment the market, but rather targets the whole market with one offer or message.

Wide Appeal

The characteristic of a product, service, or content that makes it attractive to a broad and diverse range of consumers or audiences.

Strong Competitors

Firms that possess a significant market share, resources, competitive advantage, or influence within an industry.