A-LevelEconomicsThe price system and the microeconomy9708/31 · Oct/Nov 2019 · Q81 Mark

The diagram shows cost and revenue curves for a firm. [Figure 8.1] The firm may seek to either maximise profit or maximise revenue. What is the correct price and quantity combination for each? maximise profit maximise revenue A Q1P1 Q3P3 B Q1P1 P4Q4 C Q2P2 Q3P3 D Q2P2 Q4P4

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Marking points from the official mark scheme (Oct/Nov 2019). 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 2019 Paper 3 Variant 1, question 8.

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