Suppose That the Equilibrium Price of a Good Is $7

Multiple Choice

Suppose that the equilibrium price of a good is $7.50 and the equilibrium quantity is 20 units.Thus,

A) total revenue is $150 and total expenditure is less than $150.
B) total revenue and total expenditure are equal at $150.
C) total expenditure is $150 and total revenue is less than $150.
D) total revenue is $150 but total expenditure cannot be calculated.
E) total expenditure is $150 but total revenue cannot be calculated.