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1.4 Production, costs, revenue and profit

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Question 102

Table 1 shows four possible expansion plans for a manufacturer.

PlanAnnual outputAnnual total cost (£)
A400044,000
B600060,000
C750078,750
D900094,500

Using Table 1, which plan produces at the lowest average cost?

[1]
A

Plan A

B

Plan B

C

Plan C

D

Plan D

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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