For a Competitive Firm (Price-Taker)

question 19

Multiple Choice

For a competitive firm (price-taker) ,

• A)If it increased price,total revenues would rise.
• B)If it increased price,total revenues would rise,but profits could fall.
• C)If it increased price,both total revenues and profits would rise.
• D)If it increased price,all revenues would disappear.

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Definitions:

Endless Flow

A continuous, uninterrupted stream or sequence of activity or events.

Brain Wave

Oscillations of electrical potential between parts of the brain, visible on an EEG.

Beta Waves

Brainwaves that are associated with active, alert, and cognitive processing states of consciousness.

Electroencephalograph (EEG)

A diagnostic tool that records the electrical activity of the brain, important for identifying conditions such as epilepsy.