A grocery store sells a bag of potatoes at a fixed price of $2.30. Which of the following is a term used by economists to describe the money received from the sale of an additional bag of potatoes?

Refer to the above figure. Line ACE is called

A) the consumption function. B) the saving function. C) the savings function. D) the 45-degree line.

Competitive price-taker markets are characterized by

a. low entry barriers and a large number of firms selling a homogeneous product. b. intense rivalry among firms selling differentiated products. c. quality competition among firms and a wide variety of products. d. advertising.