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EnglandEconomicsQuick questions

1.8-1.10 Production, the labour market and money

Quick questions on Costs, revenue and profit - OCR GCSE Economics (J205)

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?
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A firm sells 200 units at £5\pounds 5 each. State its total revenue. [2 marks]
What is q2?
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Explain one source of economies of scale. [3 marks]

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