Calculations of the emission spectrum of a homogeneous plane layer of pure hydrogen plasma taking into account nonlinear effects (the influence of bremsstrahlung and recombination radiation of the layer itself on its Menzel factors) [9] show that the blue component of the optical continuum during the impulsive phase of large flares on dMe stars originates from the near-photospheric layers [1]. The gas behind the front of a stationary radiative shock wave propagating in the red dwarf chromosphere toward the photosphere is not capable of generating the blackbody radiation observed at the maximum brightness of the flares.