The financial director of a company adds up the cost for the firm of rent, insurance, new machinery and the chief executive’s basic salary. The director then divides that total by the firm’s output. What has the director calculated?

0455_m15_qp_12

MCQ

2015

Paper 1, Variant 2

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The diagram shows the fixed costs, variable costs and total costs of a firm. costs ($000) output What is the firm’s total variable cost at an output of 100 units?

0455_m15_qp_12

MCQ

2015

Paper 1, Variant 2

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A firm’s average revenue is $20. It sells 1000 units. What is the firm’s total revenue and the price of the product?

0455_m16_qp_12

MCQ

2016

Paper 1, Variant 2

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The table shows the daily output and costs of four firms making chairs. Which firm has the highest average cost of production?

0455_m16_qp_12

MCQ

2016

Paper 1, Variant 2

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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?

0455_m17_qp_12

MCQ

2017

Paper 1, Variant 2

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What is an external cost of mining coal?

0455_m18_qp_12

MCQ

2018

Paper 1, Variant 2

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The table shows some of the costs of running a retail shop in one week. $ rent of shop insurance premium purchase of stock delivery of goods What are the total fixed costs during this week?

0455_m18_qp_12

MCQ

2018

Paper 1, Variant 2

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When will a firm maximise its profits?

0455_m19_qp_12

MCQ

2019

Paper 1, Variant 2

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The table shows the costs of a firm. units of output variable costs ($) total costs ($) What is the value of the firm’s fixed costs?

0455_m19_qp_12

MCQ

2019

Paper 1, Variant 2

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A firm’s average revenue is $10. It sells 2000 units. What is the firm’s total revenue and the price of the product?

0455_m19_qp_12

MCQ

2019

Paper 1, Variant 2

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