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Revenue & Producer's Equilibrium · Question 21 of 55

Question 21

HardOriginal question

A firm's demand (AR) is P = 30 − 2Q. What is TR when it sells 5 units?

Options for question 21

Show the answer and explanation
CorrectNot quiteAnswer C

Correct answer: C

Explanation

  1. At Q = 5, P = 30 − 10 = ₹20.

  2. TR = 20 × 5 = ₹100.

Worth noting

₹20 is the price (AR); ₹150 uses the top price of ₹30.

Concept
TR from an AR function
Typical time
100 s
Your time
—
The rule this testsTotal, average and marginal revenue
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Ten questions from Revenue & Producer's Equilibrium, at your own pace.

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Ten questions from Revenue & Producer's Equilibrium, at your own pace.

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