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Economics · May / June 2025 · Paper 12 · Question 15

2281Firms’ costs, revenue and objectives

The only information known about a firm is the price it charges for its product and the quantity it sells. What else can be concluded from this?

  1. Aits average cost and profit
  2. Bits average cost and total revenue
  3. Cits average revenue and profit
  4. Dits average revenue and total revenue

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Correct answer: D. its average revenue and total revenue

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