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17 June, 19:34

Explain why it is

reasonable to say that "total revenue" is the same as

"total expenditures."

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Answers (1)
  1. 17 June, 21:03
    0
    Total revenue equals total Expenditure in a market where transaction costs are zero. This is because what consumer pays is received in total by the supplier. That is consumers pay price quantity which is total Expenditure. Hence total Expenditure equals total revenue.
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