Economics Multiple Choice Question – 5 December 2018

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

John’s Pizza is a perfectly competitive firm. The firm’s costs are shown in the table below.

Table 38

If the market price is £20, how much economic profit does the firm make?

Select ONE answer:

  1. £12
  2. -£20
  3. £0
  4. -£10

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 1

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