Share This Article:

Economic Definition of perfect competition total revenue curve. Defined.

Offline Version: PDF

Term perfect competition total revenue curve Definition: A curve that graphically represents the relation between the total revenue received by a perfectly competitive firm for selling its output and the quantity of output sold. It is combined with a perfectly competitive firm's total cost curve to determine economic profit and the profit maximizing level of production. The slope of the total revenue curve is marginal revenue.

 

« monopoly total revenue curve | monopolistic competition total revenue »

Permalink: http://glossary.econguru.com/economic-term/total+revenue+curve,+perfect+competition

Alphabetical Reference to Over 2,000 Economic Terms