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1.4 Production, costs, revenue and profit

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Question 10

Table 1 shows a firm's average cost at four output levels. Every unit is sold for £15.

Output (units)Average cost (£)
100012.00
20009.00
30008.00
40009.00

Using Table 1, at which output level does the firm make the greatest total profit?

[1]
A

1000

B

2000

C

3000

D

4000

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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