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

Firms’ costs, revenue and objectives — practice question

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

  • Atotal revenue $20$; price $20$
  • Btotal revenue $1000$; price $50$
  • Ctotal revenue $20000$; price $20$
  • Dtotal revenue $20000$; price $50$

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