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

Firms’ costs, revenue and objectives — practice question

A firm sells 50 units at a price of $3 per product. What are the firm’s total revenue and average revenue?

  • Atotal revenue: 50; average revenue: 3
  • Btotal revenue: 50; average revenue: 50
  • Ctotal revenue: 150; average revenue: 3
  • Dtotal revenue: 150; average revenue: 50

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI