Multiple Choice
Which of the following is a likely mathematical expression for total revenue?
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4. Elasticity
Total Revenue Test
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Refer to Table 14-4. If the price per unit is \$10, what is the total revenue from selling 4 units?
A
\$14
B
\$4
C
\$40
D
\$44
Verified step by step guidance1
Identify the price per unit given in the problem, which is \$10.
Determine the quantity of units sold, which is 4 units.
Recall the formula for total revenue: \(\text{Total Revenue} = \text{Price per Unit} \times \text{Quantity Sold}\).
Substitute the given values into the formula: \(\text{Total Revenue} = 10 \times 4\).
Multiply the price per unit by the quantity sold to find the total revenue.
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