A-LevelEconomicsThe price system and the microeconomy9708/32 · May/June 2020 · Q71 Mark

The table shows the total costs at different levels of output for a firm producing chairs. | output (chairs) | total cost ($) | |---|---| | 0 | 50 | | 1 | 60 | | 2 | 64 | | 3 | 77 | | 4 | 94 | | 5 | 114 |

(a)What is the average variable cost when output is 4 chairs? A $11 B $17 C $44 D $23.50[1]

Mark scheme

Marking points from the official mark scheme (May/June 2020). The mark or mark type is shown in brackets.

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Topic: The price system and the microeconomy, A-Level Economics (syllabus 9708). Structured question, 1 mark.
Source: A-Level Economics, May/June 2020 Paper 3 Variant 2, question 7.

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