Finance

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1. If a company reduces a product's price, what does this mean for their revenue?

  • There will be an increase in revenue
  • There could be an increase or decrease in revenue.
  • There will be a decrease in revenue.
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2. When is a business making loss?

  • When revenues are less than costs.
  • When revenues are less than costs.
  • When revenues equal costs.

3. A firm sells 10 units at £5 each. Its total costs are £30. How much profit is made?

  • A £20 profit is made.
  • A £50 profit is made.
  • A £20 loss is made.

4. What does the amount of revenue a business earns each month depend on?

  • Both selling price and quantity sold.
  • Quantity sold.
  • Selling price.

5. When is a business making a profit?

  • When revenues are less than costs.
  • When revenues are higher than costs.
  • When revenues equal costs.

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