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Economics · Oct / Nov 2021 · Paper 13 · Question 12

2281Firms’ costs, revenue and objectives

A firm imports 20 high quality bicycles into the US at a cost of $3000 each. It sells them all, making a profit of $1000 per bicycle. What is the firm's average revenue?

  1. A$1000
  2. B$2000
  3. C$3000
  4. D$4000

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Correct answer: D. $4000

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