Economics 2281 · O Level · Firms' costs, revenue and objectives

Firms' costs, revenue and objectives — practice question

The table presents the daily mean revenue and the number of units sold for a bicycle manufacturer across a five-day period. What conclusion can be drawn from the table?

  • AThe firm's highest total revenue occurs at 2 units of output sold.
  • BThe firm's highest total revenue occurs at 14 units of output sold.
  • CThe firm's prices are always greater than total revenue.
  • DThe firm's total revenue always increases as output rises.

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