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ZIMSEC O-Level Economics

6.8.1Costs of production

Costs of production in ZIMSEC O-Level Economics: what the syllabus expects you to know, the learning objectives and how to practise.
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Learning objectives

What the syllabus expects you to be able to do.

  1. 6.8.1.1Form 1: explain and calculate fixed, variable and total costs.
  2. 6.8.1.2Form 2: explain semi-variable costs and illustrate the cost curves.
  3. 6.8.1.3Form 3: distinguish the short run from the long run and illustrate average cost curves.

Lessons

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

    35 min

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Sample question

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

Costs of production: 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.

Turn Costs of production into a strength.

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