When a Perfectly Competitive Firm Increases Output,total Revenue

question 95

Multiple Choice

When a perfectly competitive firm increases output,total revenue:

• A) increases, because there is no price effect.
• B) decreases, because there is no price effect.
• C) increases, because there is no quantity effect.
• D) decreases, because there is no quantity effect.

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Definitions:

Implied Covenant

A legal agreement that is not explicitly stated but is assumed to exist due to the nature of the transaction or relationship.

Employee Polygraph Protection Act

A federal law in the United States that prohibits most private employers from using lie detector tests, either for pre-employment screening or during the course of employment, with certain exceptions.

Labor Department

A government department responsible for overseeing labor practices, employment, and workplace safety standards, often involved in creating and enforcing labor laws.

Americans with Disabilities Act

A civil rights law that prohibits discrimination based on disability, requiring accessible facilities and reasonable accommodations in employment, public services, and telecommunications.