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Total, Average and Marginal Revenue

In a perfectl...

Question

In a perfectly competitive market, the total revenue curve takes the form of a .

A

U-shaped curve

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B

straight line

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C

inverted U curve

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D

S-shaped curve

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Solution

The correct option is B straight line
When the market is perfectly competitive, the price does not vary. In fact, the price is the slope of the TR curve. Thus the TR curve is a straight line with positive slope.

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