DP Economics Questionbank

Define the term total revenue indicated in bold in the text (paragraph [6]).

Calculate the change in expenditure on imported oranges as a result of the increase in demand.

Using information from Figure 1, calculate Firm A’s total fixed costs.

The market price of almonds is $11 per kilogram. Using Figure 1, identify the quantity of almonds Firm A must produce in order to maximize profits.

Calculate the economic profit/loss when Firm A is producing at the output level identified in part (b)(i).

Using Figure 2 and the information in Table 4, calculate the total profit earned by petrol suppliers in New Delhi per day.