A-LevelEconomicsTheory of the Firm / Firm ObjectivesOct/Nov 2019Paper 3 Q81 Mark
A firm has the choice between five levels of output. The table shows the total cost and total revenue of producing at each output level. The firm could sell whatever output it produces. output (units) total cost ($) total revenue ($) 1000 8000 10000 2000 12000 18000 3000 19000 24000 4000 23000 28000 5000 25000 25000 The firm decides to produce 4000 units. What is the firm's aim?
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
🎯 Mark Scheme Breakdown
Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.
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