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9/14/21, 8:47 AM Page printer

Worksheet - Unit 3.2 Costs and revenues

The table below shows some changes in costs and revenue as output changes.

1. Complete the table below by filling in the


gaps.                                                                                                         (4 marks)

Costs & Revenues ($)


Output level Sales Variable
Fixed costs Total costs Profit
revenue costs

0 0
1
2 500
3 900
4
5 1,500
6 1,200

2. Identify the total fixed costs.                                                                                  (1 mark)

3. Calculate the selling price of the product.                                                              (2 marks)

4. Calculate the average variable cost.                                                                      (2 marks)

Download the Worksheet - costs & revenues in PDF format.

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