Note AcademyNote Academy
Start

Economics · Oct / Nov 2024 · Paper 12 · Question 15

2281Firms’ costs, revenue and objectives

A firm's average revenue is $20. It sells 1000 units. What are the firm's total revenue and the price of the product?

  1. Atotal revenue ($) 20; price ($) 20
  2. Btotal revenue ($) 1 000; price ($) 50
  3. Ctotal revenue ($) 20 000; price ($) 20
  4. Dtotal revenue ($) 20 000; price ($) 50

As printed in the paper

Show the answer

Correct answer: C. total revenue ($) 20 000; price ($) 20

Sit this whole paper →More on Firms’ costs, revenue and objectives

Make a free account to save your answers and see your weak topics and ask the AI why a wrong answer is wrong.