Asked by
travis mason
on Oct 08, 2024
Verified
In answering the question,assume a graph in which dollars are measured on the vertical axis and output on the horizontal axis. Refer to the information.For a purely competitive firm,total revenue graphs as a:
A) straight,upsloping line.
B) straight line,parallel to the vertical axis.
C) straight line,parallel to the horizontal axis.
D) straight,downsloping line.
Total Revenue
The total amount of money received by a company from selling its goods or services before any costs or expenses are deducted.
Upsloping Line
In economics, represents a graph where the value or quantity increases as another variable increases, often seen in supply curves.
- Explore the features of demand and marginal revenue curves for entirely competitive organizations.
Verified Answer
JJ
Learning Objectives
- Explore the features of demand and marginal revenue curves for entirely competitive organizations.