Economics Multiple Choice Question – 1 December 2018

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

The figure below depicts the marginal revenue and costs of a perfectly competitive firm. When the firm produces 170 units ……… ?

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Select ONE answer:

  1. total revenue equals total cost.
  2. total revenue is less than total cost.
  3. marginal revenue equals marginal cost.
  4. marginal cost is less than marginal revenue.

Show your workings to arrive at your answer, and explain and justify your reasons:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Economics KS5 classes.

The answer is 3

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