A-LevelEconomicsThe price system and the microeconomy9708/32 · Oct/Nov 2018 · Q61 Mark

The schedule shows the short-run marginal cost of producing good X. units of X 1 2 3 4 5 marginal cost ($) 45 40 30 20 20 Given that the total fixed cost is $50, which level of output minimises average total cost?

The schedule shows the short-run marginal cost of producing good X. units of X 1 2 3 4 5 marginal cost ($) 45 40 30 20 20 Given that the total fixed cost is $50, which level of output minimises average total cost? A 2 units B 3 units C 4 units D 5 units[1]

Mark scheme

Marking points from the official mark scheme (Oct/Nov 2018). 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 2018 Paper 3 Variant 2, question 6.

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