If the market price for a good produced by a price taking firm is $5, the firm's total revenue is

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Total revenue for a price-taking firm is calculated as the price of the good multiplied by the quantity sold. Since the price is constant at $5, the total revenue increases linearly with quantity, making the total revenue curve an upward sloping line starting from the origin with a slope of 5 (where slope represents the price per unit).

If the Market Price for a Good Produced by a Price