O-LevelEconomicsMicroeconomic decision makers2281/12 · Oct/Nov 2023 · Q161 Mark

A firm produces five units of output at an average cost of $20 per unit. The cost of the sixth unit is $26. What is the average cost of six units?

A$4.33

B$6

C$8.33

D$21

✓ Correct answer

D: $21

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 2023 Paper 1 Variant 2, question 16.

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

What is a function of a commercial bank?

A person is most likely to save more when there is an increase in a country's

One of the functions of money is to act as a measure of value. What does this mean?

What is likely to happen in an economy that experiences uncontrolled hyperinflation?

Gross Domestic Product (GDP) per capita is commonly used as an indicator of the comparative level of development in d…

India has a more evenly distributed income than China but a greater proportion of its population living on less than …