A-LevelEconomicsThe price system and the microeconomy9708/33 · May/June 2017 · Q81 Mark
In the diagram MC = marginal cost; AC = average cost; MR = marginal revenue; AR = average revenue. [Diagram]
- (a)In the diagram MC = marginal cost; AC = average cost; MR = marginal revenue; AR = average revenue. [Diagram] What will be the output of a profit-maximising firm whose cost and revenue functions are shown above? A OW B OX C OY D OZ[1]
This question uses a diagram from the original paper, which isn't shown here. Open the full paper from the past papers archive to see it.
Mark scheme
Marking points from the official mark scheme (May/June 2017). The mark or mark type is shown in brackets.
- [1] Answer: A
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