O-LevelEconomicsMicroeconomic decision makers2281/12 · May/June 2025 · Q151 Mark

The only information known about a firm is the price it charges for its product and the quantity it sells. What else can be concluded from this?

Aits average cost and profit

Bits average cost and total revenue

Cits average revenue and profit

Dits average revenue and total revenue

✓ Correct answer

D: its average revenue and total revenue

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Topic: Microeconomic decision makers, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2025 Paper 1 Variant 2, question 15.

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