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EnglandEconomicsQuick questions
Component 1: Microeconomics - Business economics and competition
Quick questions on Costs, revenues and profit - OCR A-Level Economics (H460)
2short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is q1?Show answer
Distinguish between a fixed cost and a variable cost, with an example of each. [4 marks]
What is q2?Show answer
Explain one internal economy of scale. [3 marks]
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