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ScotlandEconomicsQuick questions
Economics of the Market
Quick questions on Production and costs: costs, revenue, profit and economies of scale - SQA Higher Economics
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
A firm sells 2,000 units at GBP 8 each and has total costs of GBP 12,000. Calculate its total revenue and its profit. [2 marks]
What is q2?Show answer
Explain why a very large firm might suffer diseconomies of scale. [3 marks]
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