Question

on this graph, the area of the purple rectangle corresponds to:
king hardware’s revenue from selling bolts, measured in dollars
the price of the bolts, measured in dollars per pound
the number of bolts that king hardware sold, measured in pounds
none of these—the area has no meaning
now suppose king hardware raises its price to $6.00 per pound of bolts. as a result, it now sells 5 pounds of bolts.
use the blue rectangle to draw the area that corresponds to the new price and quantity.
did raising the price of bolts increase king hardware’s revenue?
yes
no

Explanation:

Step1: Recall revenue formula

Revenue = Price × Quantity. On a graph where one - axis represents price and the other represents quantity, the area of a rectangle formed by price and quantity values is Price×Quantity, which is revenue.

Step2: Analyze new situation

The new price is $p = 6$ dollars per pound and the new quantity is $q = 5$ pounds. The new revenue $R=p\times q=6\times5 = 30$ dollars. But we don't know the initial revenue to compare if it increased or not. However, for the first part, since area of rectangle on price - quantity graph is Price×Quantity which is revenue, the area of the purple rectangle corresponds to King Hardware's revenue from selling bolts, measured in dollars.

Answer:

King Hardware's revenue from selling bolts, measured in dollars
No