Use the following to answer questions:
Figure: The Perfectly Competitive Firm
-(Figure: Perfectly Competitive Firm) Look at the figure The Perfectly Competitive Firm. The figure shows a perfectly competitive firm that faces demand curve d maximizes profit. Given the market price, the firm's total revenue per day is:

Question

Use the following to answer questions:
Figure: The Perfectly Competitive Firm 
-(Figure: Perfectly Competitive Firm) Look at the figure The Perfectly Competitive Firm. The figure shows a perfectly competitive firm that faces demand curve d maximizes profit. Given the market price, the firm's total revenue per day is:

Quizplus · Accepted Answer

In a perfectly competitive market, the firm's total revenue is calculated by multiplying the market price by the quantity sold. The figure likely shows the quantity at which the firm maximizes profit, and when multiplied by the market price, it results in a total revenue of $900.

Use the Following to Answer Questions