Revenue Schedules And Curves - SS2 Economics Past Questions and Answers - page 1
What does the total revenue curve show?
How a firm's total cost changes as it changes the quantity of output it produces
How a firm's total revenue changes as it changes the quantity of output it produces
How a firm's average revenue changes as it changes the quantity of output it produces
None of the above
(It shows how a firm's total revenue changes as it changes the quantity of output it produces)
Users' Answers & CommentsWhat does the average revenue curve show?
How a firm's total revenue changes as it changes the quantity of output it produces
How a firm's average revenue changes as it changes the quantity of output it produces
How a firm's marginal revenue changes as it changes the quantity of output it produces
None of the above
(It shows how a firm's average revenue changes as it changes the quantity of output it produces)
Users' Answers & CommentsWhat does the marginal revenue curve show?
How a firm's total revenue changes as it changes the quantity of output it produces
How a firm's average revenue changes as it changes the quantity of output it produces
How a firm's marginal revenue changes as it changes the quantity of output it produces
None of the above
(It shows how a firm's marginal revenue changes as it changes the quantity of output it produces)
Users' Answers & CommentsWhat is the slope of the total revenue curve?
Upward-sloping initially, then flat
Downward-sloping initially, then flat
Downward-sloping throughout
Upward-sloping throughout
What is the average revenue curve?
The average revenue curve shows how a firm's average revenue changes as it changes the quantity of output it produces. The AR curve is always equal to the price of the goods being sold.
Users' Answers & CommentsWhat is the marginal revenue curve?
The marginal revenue curve shows how a firm's marginal revenue changes as it changes the quantity of output it produces. The MR curve slopes downward as output increases.
Users' Answers & Comments