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Economics · May / June 2021 · Paper 11 · Question 14

2281Firms’ costs, revenue and objectives

Dimitry owns a firm that produces and sells bottles of lemonade. He only sells one size of bottle. How would Dimitry calculate the total revenue of the firm?

  1. Amultiply the quantity sold by the cost per bottle
  2. Bmultiply the quantity sold by the price per bottle
  3. Cmultiply the quantity sold by the profit per bottle
  4. Dmultiply the quantity sold by the tax per bottle

As printed in the paper

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Correct answer: B. multiply the quantity sold by the price per bottle

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