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Cambridge IGCSE Economics

3.6Firms' costs, revenue and objectives

Firms' costs, revenue and objectives in Cambridge IGCSE Economics: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic46 practice questions3 lessons
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Lessons

  • Costs of production: fixed, variable, total and average costs

    35 min

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  • Revenue: total, average and marginal revenue

    30 min

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  • Objectives of firms

    25 min

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Sample question

A sample question on this topic. Answer it, check it, then read the worked answer.

Firms' costs, revenue and objectives: sample question

1 mark

A fictional brick-moulding firm in Masvingo has fixed costs of US$520 a week. When it makes 130 pallets of bricks a week its variable costs are US$780. Calculate its total cost for the week.

Complete: US$ …

Only if the answer has a unit, e.g. cm or km/h.

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