Under perfect competition, no matter how much output is produced, ...

[lilldybug07]

Under perfect competition, no matter how much output is produced, the total revenue curve is:
 a. a positively-sloped line.
  b. a negatively-sloped line.
  c. a horizontal straight line.
  d. a U-shaped curve.
  e. a hill-shaped curve.

Question 2

If the government wants to raise tax revenue and shift most of the tax burden to the sellers, it would impose a tax on a good with a:
 a. steep (inelastic) demand curve and steep (inelastic) demand curve.
  b. steep (inelastic) demand curve and a flat (elastic) supply curve.
  c. flat (elastic) demand curve and a steep (inelastic) supply curve.
  d. flat (elastic) demand curve and a flat (elastic) supply curve.

[jsm54321]

Answer to Question 1

a

Answer to Question 2

c

[lilldybug07]

Thank you

[jsm54321]

No problemo