For a purely competitive firm, total revenue
A) is price times quantity sold.
B) increases by a constant absolute amount as output expands.
C) graphs as a straight upsloping line from the origin.
D) has all of these characteristics.

Question

Quizplus · Accepted Answer

In a purely competitive market, total revenue is calculated as price times quantity sold, increases by a constant amount as output expands, and graphs as a straight upsloping line from the origin, reflecting all these characteristics.

For a Purely Competitive Firm, Total Revenue