A-LevelEconomicsThe price system and the microeconomy9708/32 · Oct/Nov 2017 · Q71 Mark

In the diagram the curve TC shows the relationship between a firm's total costs and its level of output. total cost TC R P O Q output At output OQ average fixed costs are OP A equal to QR QR B equal to OQ OP C equal to OQ D measured by the slope of the line OR.

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Marking points from the official mark scheme (Oct/Nov 2017). 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, Oct/Nov 2017 Paper 3 Variant 2, question 7.

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