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Economics (AS & A Level) · Feb / March 2021 · Paper 32 · Question 12

9708Differing objectives and policies of firms

The diagram shows the demand curve for a firm's product. Which diagram depicts the shape of the firm's corresponding total revenue (TR) curve?

  1. Aprice-quantity graph with a straight upward-sloping TR line from the origin
  2. Bprice-quantity graph with a horizontal TR line
  3. Cprice-quantity graph with a TR curve rising then falling (inverted U)
  4. Dprice-quantity graph with a TR curve rising at an increasing rate

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Correct answer: C. price-quantity graph with a TR curve rising then falling (inverted U)

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