Question

The demand for a product is 30 units when the price is Rs. 10, however the demand rises to 34 when the price is reduced to Rs. 9. per unit what is the total revenue from sale of 34 units?

• A. Rs. 316
• B. Rs. 305
• C. Rs. 306
• D. Rs. 300

Answer 1

Answer: (C)

Rs. 306

Total revenue refers to the total money earned from the sale of a specified level of output given the price at which it was quoted.

Total Revenue = Quantity x Price

Total revenue from the sale of 34 units,

Total revenue = Rs. 34 x 9

= Rs. 306

Therefore, the total revenue from the sale of 34 units is Rs. 306.