Answer Happy

(4 Marks) The diagram shows the price, marginal cost and average cost curves facing a perfectly competitive firm in the short run. QUESTION 18 Cost, ne(Rand) ------18 QUESTION 19 80 100 Output per day MC Price What is the total revenue of the profit-maximising firm in the short run? A.R720 B. R800 C. R960 D. R2 000 In the circular flow of income and spending, the spending by firms in the of the households. Households in turn spend their income in the A. goods; factors of production; factors; goods and services B. goods; goods and services; factors; factors of production C. factors; goods and services; factors; factors of production D. factors; factors of production; goods; goods and services market on market to purchase (4 Marks) represents the income