Total revenue is equal to Select one: O a. price times quantity minus marginal cost. O b. price times quantity. O c. price times quantity minus average cost. O d. price times quantity minus total cost. O e. expenditure on production of output.

Total revenue is equal to Select one: O a. price times quantity minus marginal cost. O b. price times quantity. O c. price times quantity minus average cost. O d. price times quantity minus total cost. O e. expenditure on production of output.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Answer both please and no need explanation just do answer I will rate dont say policy.

Total revenue is equal to
Select one:
O a. price times quantity minus marginal cost.
O b. price times quantity.
O c. price times quantity minus average cost.
O d. price times quantity minus total cost.
O e. expenditure on production of output.

What will be the effect of the imposition of a tax on a product?
Select one:
O a. Leftward shift in the supply curve
O b. Leftward shift in the demand curve
O. Rightward shift in the demand curve
Od. Rightward shift in the supply curve

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