-Refer to the above figure. Line C in Panel B does NOT represent

Name: -Refer to the above figure. Line C in Panel B does NOT represent
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Question

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Line C in Panel B represents both the equilibrium price and marginal revenue in a perfectly competitive market, where price equals marginal revenue. It does not represent total revenue, which is calculated by multiplying the price by the quantity sold and would be represented by an area rather than a line on this graph.

-Refer to the Above Figure