O-LevelEconomicsMicroeconomic decision makers2281/12 · May/June 2021 · Q141 Mark

What is calculated when price is multiplied by the quantity demanded of a product?

Aaverage revenue

Bprofit

Ctotal cost

Dtotal revenue

✓ Correct answer

D: total revenue

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Topic: Microeconomic decision makers, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2021 Paper 1 Variant 2, question 14.

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