Graphically, a firm's total revenue is represented by the:
a. triangle formed under the demand curve.
b. rectangle formed under the demand curve at a given price and quantity combination.
c. rectangle formed under the average-total-cost curve at a given ATC and quantity combination.
d. triangle formed by a line segment between the demand and average-total-cost curves at any level of output.
e. triangle formed by a line segment between the horizontal axis and the average-total-cost curves at any level of output.
b
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How does a negative externality in production reduce economic efficiency?
What will be an ideal response?
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A) one-year B) two-year C) four-year D) eight-year
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a. True b. False Indicate whether the statement is true or false