←Production, costs, revenue and profit
From Paper 1: How markets work
Average cost is calculated as:
From Paper 1: How markets work
Division of labour means:
From Paper 1: How markets work
A firm sells 500 units at £8 each. Its total costs are £3,100. Calculate its profit.
From Paper 1: How markets work
Calculate the change in the coffee chain's daily revenue from lattes in this town, and explain what this shows about inelastic demand.
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This paper is written by Plasmo in the style of the AQA GCSE Economics exam. It is not a past paper and is not produced or endorsed by the exam board.