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1.4 Production, costs, revenue and profit

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Question 1

Table 1 shows a firm's total cost at three monthly output levels.

Output per month (units)Total cost (£)
02400
3004200
5005400

Using Table 1, which pair of cost figures is correct?

[1]
A

Fixed cost £1800 and variable cost £6 per unit

B

Fixed cost £2400 and variable cost £14 per unit

C

Fixed cost £2400 and variable cost £6 per unit

D

Fixed cost £4200 and variable cost £6 per unit

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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