Exhibit 8-12
-If the market price rises, the total revenue (TR) curve in Exhibit 8-12 will

Name: Exhibit 8-12 -If the market price rises, the total revenue (TR) curve in Exhibit 8-12 will
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Question

Exhibit 8-12 
-If the market price rises, the total revenue (TR) curve in Exhibit 8-12 will

Quizplus · Accepted Answer

If the market price rises, the total revenue for each quantity sold will increase. As a result, the total revenue curve will rotate upward. Additionally, the curve will become steeper because the increase in price will have a larger impact on the quantity demanded.

Exhibit 8-12 -If the Market Price Rises, the Total Revenue (TR) Curve