A perfectly competitive firm's total revenue (TR) curve will slope and to the .
Question
Solution 1
A perfectly competitive firm's total revenue (TR) curve will slope upwards and to the right.
Here's why:
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Total Revenue (TR) is calculated as the price of the good multiplied by the quantity of the good sold (TR = P*Q).
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In a perfectly competitive market, the firm is a price taker, meaning Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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