A ﬁrm produces one unit of a good at a cost of £2. It sells 300 units of the good in the market at a price of £3 each. The ﬁrm's total revenue is equal to £600.

Name: A ﬁrm produces one unit of a good at a cost of £2. It sells 300 units of the good in the market at a price of £3 each. The ﬁrm's total revenue is equal to £600.
Brand: Quizplus
Rating: 4.9 (42 reviews)

Question

Quizplus · Accepted Answer

The firm's total revenue is calculated by multiplying the price per unit by the number of units sold, which is £3 * 300 = £900.

A ﬁRm Produces One Unit of a Good at a Cost