O-LevelEconomicsMicroeconomic decision makers2281/12 · Oct/Nov 2020 · Q131 Mark

A firm has fixed costs of 1000. The table shows the variable cost at different levels of output. output (units) 1 2 3 4 variable cost () 100 190 270 350 If the goods are sold for $500 each, how much profit will be made from the sale of 4 units?

A$650

B$1000

C$1650

D$2000

✓ Correct answer

A: $650

Oracle Prep sorts past-paper questions by topic, so you can drill Microeconomic decision makers and see which topics are most likely to come up next.

Topic: Microeconomic decision makers, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, Oct/Nov 2020 Paper 1 Variant 2, question 13.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content