Asked by Elizabeth Barkhudaryan on Jun 13, 2024

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The total revenue received by sellers of a good is the same amount as the

A) total income earned by the buyers.
B) total amount spent on the good by the buyers.
C) price paid by the buyers for each unit of the good.
D) profits earned by the sellers of the good.

Sellers

Individuals or entities that offer goods or services for sale to consumers or other businesses.

Total Revenue

The total amount of money a firm receives from the sale of its goods or services, calculated as the quantity sold multiplied by the price per unit.

Buyers

Individuals or organizations that purchase goods or services for personal use, resale, or production.

  • Analyze how changes in pricing affect demand volume and overall sales revenue.
  • Perceive the influence of modifications in prices on the expenditure pattern of consumers.
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AG
Allison GrubeJun 15, 2024
Final Answer :
B
Explanation :
The total revenue received by sellers of a good is equal to the total amount spent on the good by the buyers, as it represents the total income from sales for the sellers, which comes directly from the payments made by the buyers.