A-LevelEconomicsThe price system and the microeconomy9708/32 · May/June 2019 · Q101 Mark

A firm has total production cost of $200000. Its average fixed cost is $120 and its average variable cost is $80.

10What are the firm's total fixed costs? A $12000 B $40000 C $80000 D $120000[1]

Mark scheme

Marking points from the official mark scheme (May/June 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, May/June 2019 Paper 3 Variant 2, question 10.

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