A-LevelEconomicsThe price system and the microeconomy9708/32 · May/June 2019 · Q121 Mark
The diagram shows the marginal cost (MC), average variable cost (AVC) and average total cost (ATC) curves of a profit maximising firm in a perfectly competitive market.
- 12Which market price would mean the firm would operate in the short run but not in the long run? A P1 B P2 C P3 D P4[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 2019). The mark or mark type is shown in brackets.
- [1] 12 B
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