A-LevelEconomicsThe price system and the microeconomy9708/32 · May/June 2020 · Q161 Mark

'The addition to revenue which results from employing one additional unit of a factor of production, while the quantities of all other factors of production remain constant'. What does this define? A marginal factor cost B marginal revenue C marginal revenue product D the law of diminishing returns

(a)'The addition to revenue which results from employing one additional unit of a factor of production, while the quantities of all other factors of production remain constant'. What does this define? A marginal factor cost B marginal revenue C marginal revenue product D the law of diminishing returns[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 16.

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