the graph above shows one stores projected demand curve for hand-held vacuum cleaners. if the demand at point p3 is fully satisfied, how much money will the store make by selling hand-held vacuum cleaners?
a. $900
b. $600
c. $400
d. $270

Question

Accepted Answer

{ "quality": "clear", "question_count": 1, "skills_matched": [ "step_cot", "multiple_choice_formatter", "explain_then_answer", "tutor", "mastery_adaptive_brevity" ], "needs_drawing": false, "concepts_used": [ "Demand Curve Analysis", "Total Revenue Calculation" ], "new_concepts": [], "current_concepts": [ "Demand Curve Analysis", "Total Revenue Calculation" ] } ## Identify coordinates of point P3 Using the *Demand Curve Analysis* knowledge point $$ \begin{aligned} &\text{Quantity } (Q) = 45\ &\text{Price } (P) = 20 \end{aligned} $$ ## Calculate total revenue Using the *Total Revenue Calculation* knowledge point $$ \begin{aligned} \text{Total Revenue} &= P \times Q\ &= 20 \times 45\ &= 900 \end{aligned} $$

a. $900

b. $600

c. $400

d. $270

{ "subject": "Business", "question_type": "Multiple Choice", "knowledge_point": [ "Business", "Microeconomics", "Total Revenue Calculation" ] }

Sovi.AI - AI Math Tutor

QUESTION IMAGE

Question

Explanation:

Identify coordinates of point P3

Calculate total revenue

Answer: