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Revenue & Producer's Equilibrium · Question 30 of 55

Question 30

MediumOriginal question

If the market price rises, the TR line of a price-taking firm

becomes flatterCorrect answerYour answerbecomes steeperCorrect answerYour answershifts up in parallelCorrect answerYour answerdoes not changeCorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer B

Correct answer: B

The slope of the TR line is the price; a higher price makes it steeper, still from the origin.

Concept: Price and the TR line
Typical timeTypical: 70 s
Your timeYours: —

The rule this testsRevenue at a price set by the market

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Ten questions from Revenue & Producer's Equilibrium, at your own pace.

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Ten questions from Revenue & Producer's Equilibrium, at your own pace.

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