Asked by Dasia Monique' on May 06, 2024
Verified
The total revenue graph consistent with Table 8.1 is:
A) linear and upward-sloping.
B) linear and horizontal.
C) linear and vertical.
D) linear and downward-sloping.
E) concave downwards.
Total Revenue
The total amount of money received by a company from sales of its products or services, before any expenses are subtracted.
Linear
Pertaining to a relationship or equation that can be graphically represented in a straight line, indicating a constant rate of change.
Upward-Sloping
Describes a line or curve on a graph that increases in height as it moves from left to right, often used to represent the increase in price with an increase in quantity supplied.
- Comprehend the concept of producer surplus and its relation to firm and market economics.
Verified Answer
AH
Aseel HasheshMay 12, 2024
Final Answer :
A
Explanation :
The table shows that as the quantity sold increases, the total revenue also increases at a constant rate. This relationship between quantity and revenue is consistent with a linear and upward-sloping total revenue graph.
Learning Objectives
- Comprehend the concept of producer surplus and its relation to firm and market economics.