Figure 11.1.1 Refer to Figure 11.1.1, which shows a perfectly competiti...

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Figure 11.1.1

Refer to Figure 11.1.1, which shows a perfectly competitive firm's total revenue curve. Why is the firm's total revenue curve a straight line?

The firm has perfect information.

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The firm maximizes profit.

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The firm is a price taker.

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The firm faces a constant demand for its product.

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The firm faces constant competition.

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