In the perfectly competitive market, if 10 packets of bread are sold at the price of Rs. 25 per packet, what will be the total revenue of a bread manufacturer?
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → Rs. 250
Total Revenue (TR)=Price (P)×Quantity (Q)
Given values:
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Price per packet (P): Rs. 25
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Quantity sold (Q): 10 packets
Calculation: TR= Rs. 25×10 = Rs. 250