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Economics · Oct / Nov 2018 · Paper 12 · Question 14

2281Firms’ costs, revenue and objectives

The table shows a firm’s average revenue and average cost at different levels of output. When all output is sold, which level of output gives maximum profit?

  1. A5
  2. B10
  3. C15
  4. D20

As printed in the paper

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Correct answer: D. 20

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