Suppose we plot the total revenue curve with quantity on the horizontal axis and revenue on the vertical axis (as in Figure 8.1 in the book). Under price-taking behavior, the total revenue curve should be:
A) an inverted U-shaped curve (first increasing and then decreasing).
B) a U-shaped curve (first decreasing and then increasing).
C) a horizontal line with vertical axis intercept equal to the market price.
D) a straight line from the origin with slope equal to the market price.
D
Economics
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