Memorsing content can only take you so far, so use exam questions effectively to prepare yourself for the actual exam. This document will help you do so, it contains a mix of exam style questions with extract/sources just like the real exam. The marks are for AS level but you can just as easily use...
, Edexcel A Level Economics (A)
Unit Assessment – 3.3 Revenues, Costs and Profits
Total marks: 50
Time allowed: 1 hour
Section A
ANSWER ALL THE QUESTIONS
1a A car manufacturer responds to an increase in demand by expanding its output. If the new level of
output is beyond its minimum efficient scale, which of the following best describes its situation?
A Falling long run average costs o
B External economies of scale o
C Diseconomies of scale o
D Internal economies of scale o
(1 mark)
1b With reference to this diagram, state whether demand will be price elastic or inelastic at
i) output levels Q1
ii) output level Q2
(2 marks)
Answer to part i)
Page 2 Edexcel A Level Economics (A) Unit Assessment www.tutor2u.net/economics
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller EconomicsNoteAndExamQuestions. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.89. You're not tied to anything after your purchase.
