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Question
How does the total revenue (TR) curve look for a firm in perfect competition?
Options
It is a downward-sloping curve.
It is a straight line sloping upward.
It is a horizontal line.
It has a U-shape.
MCQ
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Solution
It is a straight line sloping upward
Explanation:
Total revenue increases by a fixed amount (the price) for each additional unit, resulting in a straight upward-sloping line.
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