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1.4 Production, costs, revenue and profit

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Question 10

During one weekend, a wildlife park sold 1,500 admission tickets. These were either standard tickets or reduced-price tickets. It received £19,800 from standard tickets.

Across all ticket sales, average revenue was £18 per ticket. What is the wildlife park's revenue from reduced-price tickets?

[1]
A

£7,200

B

£4.80

C

£46,800

D

£27,000

Markscheme

1.4 Production, costs, revenue and profit Questions

  1. GCSE
  2. /Economics
  3. /1.4 Production, costs, revenue and profit

138 exam-style questions on AQA GCSE Economics 1.4 Production, costs, revenue and profit, covering 1.4.1a Business objectives, 1.4.1b Types of costs and revenue, 1.4.1c Calculating profit, 1.4.1d Profit as an incentive to produce, 1.4.1e Moral and ethical considerations, 1.4.2a Production versus productivity, 1.4.2b Factors and benefits of productivity, 1.4.3a Economies of scale and business behaviour, 1.4.3b Types of economy of scale, and 1.4.3c Diseconomies of scale. Each one has a worked solution and a mark scheme showing where the marks go.

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