Based on the above graph, which statement better explains the slope of the total revenue? $ costs 0 DO TC TR web page designs a) The slope of the total revenue curve is revealed by the cost of the product produced. b) Both a and b above can be used to explain the slope of the total revenue curve. c) As output rises, decreasing returns will cause total costs to sharply decelerate. d) A perfectly competitive business is indicated by total revenue displayed as a straight-line sloping upward.

Based on the above graph, which statement better explains the slope of the total revenue? $ costs 0 DO TC TR web page designs a) The slope of the total revenue curve is revealed by the cost of the product produced. b) Both a and b above can be used to explain the slope of the total revenue curve. c) As output rises, decreasing returns will cause total costs to sharply decelerate. d) A perfectly competitive business is indicated by total revenue displayed as a straight-line sloping upward.

Principles of Economics (MindTap Course List)

8th Edition

ISBN:9781305585126

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter14: Firms In Competitive Markets

Section: Chapter Questions

Problem 4PA

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Please solve Fast i give 2 like Which of the following is not true according to Figure 1? Hide Transcribed Text Figure 1: Cost and Price AC : Average Cost, AVC: Average Variable Cost, and MC: Marginal Cost A) The firm earn a zero economic profit when it produces 40 unit at the price of $5.7 per unit. B) The minimum acceptable price (the shut-down point) is $4.3 per unit. C) The firm's supply curve is its MC curve above minimum of AVC. D) The firm earns an economic profit when the price exceeds $4.3 per unit.