# If painter charges 0.25 per square foot and the quantity is 50 and the total cost is 72.51, what...

## Question:

If painter charges 0.25 per square foot and the quantity is 50 and the total cost is 72.51, what is the total revenue?

## Total Revenue in Economics:

In the parlance of economics, the total revenue of a particular firm for a given product is determined by multiplying the unit price of a product with the total quantity of the product produced. The total accounting profit is usually calculated by deducting the total cost from the total revenue.

## Answer and Explanation: 1

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The calculated value of the total revenue is $12.50. Let P = price charged by the painter per square foot ($0.25) ; Q = quantity (i.e. 50)

The total...

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