Economics · Oct / Nov 2020 · Paper 13 · Question 13

A firm has fixed costs of $1000. The table shows the variable cost at different levels of output. | output (units) | 1 | 2 | 3 | 4 | |---|---|---|---|---| | variable cost ($) | 100 | 190 | 270 | 350 | If the goods are sold for $500 each, how much profit will be made from the sale of 4 units?

1. A$650
2. B$1000
3. C$1650
4. D$2000

As printed in the paper