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Economics · May / June 2020 · Paper 11 · Question 13

2281Firms’ costs, revenue and objectives

The following information refers to a firm producing shoes. At which level of output does the firm maximise profits?

  1. Atotal output 100; total cost 1000; total revenue 1300
  2. Btotal output 200; total cost 1800; total revenue 2200
  3. Ctotal output 300; total cost 2700; total revenue 3000
  4. Dtotal output 400; total cost 3200; total revenue 3400

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Correct answer: B. total output 200; total cost 1800; total revenue 2200

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