Economics 0455 · IGCSE · Firms’ costs, revenue and objectives

Firms’ costs, revenue and objectives — practice question

What do we mean by a variable cost for a firm?

  • Athe cost of raw materials
  • Bthe interest payment on existing loans
  • Cthe rent on the factory
  • Dthe insurance on the factory buildings

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