Economics 0455 · IGCSE · Firms’ costs, revenue and objectives

Firms’ costs, revenue and objectives — practice question

The table presents the data available to a company’s managers from one week of trading activity. employees: $100$ average pay: $\$900$ output value: $\$100\,000$ rental cost: $\$10\,000$ materials used in production: $\$20\,000$ If there are no other costs, what is the amount of the fixed costs?

  • A$\$300$
  • B$\$10\,000$
  • C$\$20\,000$
  • D$\$30\,000$

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