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Suppose we plot the total revenue curve with quantity on the horizontal axis and revenue on the ...

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Suppose we plot the total revenue curve with quantity on the horizontal axis and revenue on the ...

Suppose we plot the total revenue curve with quantity on the horizontal axis and revenue on the vertical axis (as in Figure 8.1 in the book). Under price-taking behavior, the total revenue curve should be:
A) an inverted U-shaped curve (first increasing and then decreasing).
B) a U-shaped curve (first decreasing and then increasing).
C) a horizontal line with vertical axis intercept equal to the market price.
D) a straight line from the origin with slope equal to the market price.

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Microeconomics

Edition: 8^th

Author: Pindyck

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