The diagram shows the fixed costs, variable costs and total costs of a firm at output S. P Q R S costs output O Which distance represents the firm’s variable costs?

0455_s22_qp_12

MCQ

2022

Paper 1, Variant 2

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The diagram shows the fixed costs, variable costs and total costs of a firm at output S. P Q R S costs output O Which distance represents the firm’s variable costs?

0455_s22_qp_13

MCQ

2022

Paper 1, Variant 3

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The diagram shows a firm’s total cost (TC) curve. TC cost $ units of output What is the average variable cost if the firm produces 10 units of output?

0455_s23_qp_11

MCQ

2023

Paper 1, Variant 1

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What is not a variable cost of production?

0455_s23_qp_12

MCQ

2023

Paper 1, Variant 2

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A firm has fixed costs of $20 and the following total variable costs. output total variable costs ($) What happens to average total cost over this output range?

0455_s24_qp_11

MCQ

2024

Paper 1, Variant 1

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The table shows the costs and output of a firm. $10 000 total cost $8000 total variable cost quantity What is the average fixed cost of the firm?

0455_s24_qp_11

MCQ

2024

Paper 1, Variant 1

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What is a variable cost for a firm?

0455_s24_qp_12

MCQ

2024

Paper 1, Variant 2

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A firm changes from producing individual pieces of wooden furniture by hand to a mechanised production process using the division of labour. What is the most likely set of outcomes as a result?

0455_s24_qp_13

MCQ

2024

Paper 1, Variant 3

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A firm increased output from Q1 to Q2 and achieved economies of scale. How is this shown...

0455_s24_qp_13

MCQ

2024

Paper 1, Variant 3

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How is the average cost of a product calculated?

0455_s24_qp_13

MCQ

2024

Paper 1, Variant 3

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