Question

True or False: If Bob's Fire Engines were a competitive firm instead and $100,000 were the market price for an engine, decreasing its price from $100,000 to $50,000 would result in the same change in the production quantity and, thus, total revenue.

Answer 1

The answer for this is True

Answer 2

The answer is True.

What is the formula for general revenue?

Total revenue = quantity of units sold X value consistent with Unit

You could use the overall sales equation to calculate the revenue for both services and products. To make it easy don't forget, just assume “amount times price.

Overall sales is the sum of both running and non-running sales whilst overall charges include those incurred by means of number one and secondary sports, revenues aren't receipts. Sales are earned and mentioned in the profits statement. Receipts (cash obtained or paid out) are not.

Learn more about the total revenue  here https://brainly.com/question/25623677

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