Exhibit 8-1 Quantity and Total Revenue Data for a Firm

question 66

Multiple Choice

Exhibit 8-1 Quantity and total revenue data for a firm $$\begin{array} { | c | c | } \hline \text { Quantity } & \text { Total Revenue } \\\hline 0 & \$ 0 \\1 & 62 \\2 & 124 \\3 & 186 \\\hline\end{array}$$
-In the perfectly competitive market, individual firms exert no effect on the market price. Therefore, the firm's marginal revenue curve is:

• A) indeterminate.
• B) an upward-sloping curve.
• C) a downward-sloping curve.
• D) the same as the firm's demand curve.

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Definitions:

Inference Forms

Patterns or templates of reasoning that show the logical connection between premises and conclusion.

MP

An abbreviation that could refer to Modus Ponens, a logical form where from premises of the form "If P, then Q" and "P", it's concluded that "Q".

MT

Another term for Modus Tollens, it is the form of logical argument implying the inverse of a conclusion based on the negation of its consequence.

HS

An abbreviation often referring to Hypothetical Syllogism, a logical argument form using two conditional statements to deduce a conclusion.