O-LevelEconomicsMicroeconomic decision makers2281/12 · Oct/Nov 2020 · Q121 Mark

The table shows the output and total costs of a small firm. output (units) total costs ($) 0 50000 1000 100 000 5000 400 000 10000 600 000 What is the average fixed cost of producing 10000 units?

A$5

B$6

C$55

D$60

✓ Correct answer

A: $5

Oracle Prep sorts past-paper questions by topic, so you can drill Microeconomic decision makers and see which topics are most likely to come up next.

Topic: Microeconomic decision makers, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, Oct/Nov 2020 Paper 1 Variant 2, question 12.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

A major computer company announced that its profits had fallen below the level predicted. What might have caused this?

What is likely to cause wages in an occupation to be high?

A trade union negotiates a basic weekly wage for its members with all employers in an industry. In addition to the ba…

What is not usually an aim of a government?

The retail price index of a country rose during a year from 200 to 240. What was the annual rate of inflation?

What name is given to the type of unemployment that occurs while people search for new jobs?