Economics 9708 · AS & A Level · 7.5

7.5 — practice question

The diagram illustrates a firm’s short-run total cost curve (TC). Which statement is correct?

  • AAverage total cost is minimised at output OQ1.
  • BAverage variable cost is minimised at output OQ2.
  • CAverage variable cost is minimised at output OQ3.
  • DMarginal cost is minimised at output OQ2.

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI