Under perfect competition, no matter how much output is produced, the total revenue curve is:
a. a positively-sloped line.
b. a negatively-sloped line.
c. a horizontal straight line.
d. a U-shaped curve.
e. a hill-shaped curve.
a
Economics
You might also like to view...
In the long run, the price level adjusts
A) to achieve money market equilibrium. B) so that the inflation rate equals the growth rate of real GDP. C) so that the inflation rate equals zero. D) so that the inflation rate is moderate. E) so that the real interest rate equals the nominal interest rate.
Economics
Easy monetary policy and tight fiscal policy lead to
A) high real interest rates. B) low real interest rates. C) roughly unchanged real interest rates. D) roughly unchanged real interest rates only when Ricardian equivalence holds; otherwise, low real interest rates.
Economics