Subsection 3.7. Firms’ costs, revenue and objectives for Economics, O Level - revisedeck

3.7. Firms’ costs, revenue and objectives

A subsection of Economics, 2281, through 3. Microeconomic decision makers

Listing 10 of 139 questions

Which statement about fixed costs is correct?

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MCQ

2018

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Which statement about fixed costs is correct?

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MCQ

2006

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A business aims to maximise profits. To do this, it will have to A maximise sales revenue. B maximise the difference between sales revenue and production costs. C minimise production costs. D minimise the difference between actual production and maximum production.

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MCQ

2008

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A survey of managers in the USA revealed that most businessmen feel that a company’s responsibility is ‘to serve the interests of owners, employees, customers and the public’. The idea of profit maximisation, in contrast, implies that a company’s main responsibility should be to the A customers B employees C owners D public

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MCQ

2016

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A survey of managers in the USA revealed that most businessmen feel that a company’s responsibility is ‘to serve the interests of owners, employees, customers and the public’. The idea of profit maximisation, in contrast, implies that a company’s main responsibility should be to the A customers. B employees. C owners. D public.

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MCQ

2016

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A major computer company announced that its profits had fallen below the level predicted. What might have caused this?

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MCQ

2017

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A major computer company announced that its profits had fallen below the level predicted. What might have caused this?

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MCQ

2017

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The diagram shows the imposition of a subsidy on a product supplied by a firm. S1 S2 D O G F E J H K L M price quantity Which area represents the total revenue of the firm including the subsidy?

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MCQ

2021

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A British firm, Dyson, moved production of its vacuum cleaners from the UK to Malaysia. Why might it have made this change?

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MCQ

2007

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A firm raised the price of its product from $10 to $15 and as a result its sales fell from 200 units to 150 units. What happened to its average revenue and total revenue?

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MCQ

2011

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Questions Discovered

139