A firm sells 20 units of a good at a price of $5 per unit.If the average cost of production of the good equals $3 per unit,the firm's revenue is ________.

Name: A firm sells 20 units of a good at a price of $5 per unit.If the average cost of production of the good equals $3 per unit,the firm's revenue is ________.
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Question

Quizplus · Accepted Answer

Revenue is calculated by multiplying the price per unit by the number of units sold, so $5 per unit * 20 units = $100.

A Firm Sells 20 Units of a Good at a Price