Total revenue equals:Multiple choice question.price times cost.cost times output.output times quantity.price times quantity.

Break Down the Problem

1. Identify the variables in the context of revenue: price, cost, output, and quantity.
2. Understand the relationship between these variables to determine the formula for total revenue.

Relevant Concepts

3. Total Revenue (TR) is typically defined in economics as: $TR = \text{Price} \times \text{Quantity}$

Analysis and Detail

4. Analyzing the options:
   • Price times cost: This does not represent revenue; it relates to costs.
   • Cost times output: This does not reflect total revenue; it relates to total costs.
   • Output times quantity: This could be misinterpreted as it does not directly relate to revenue.
   • Price times quantity: This is the standard equation for total revenue.

Verify and Summarize

5. After examining the options, the correct expression for total revenue is confirmed to be $\text{Price} \times \text{Quantity}$.

Final Answer

Total revenue equals price times quantity.