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ZIMSEC O-Level Economics

6.8.3Marginal cost, profit maximisation and efficiency

Marginal cost, profit maximisation and efficiency in ZIMSEC O-Level Economics: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic20 practice questions1 lesson
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Learning objectives

What the syllabus expects you to be able to do.

  1. 6.8.3.1Form 4: explain marginal cost and identify the profit-maximising rule (MR = MC).
  2. 6.8.3.2Form 4: describe normal and abnormal profit, the break-even condition (AR = AC) and economic efficiency.

Lessons

  • Marginal cost, profit maximisation and efficiency

    35 min

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Sample question

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

Marginal cost, profit maximisation and efficiency: sample question

1 mark

When a fictional brewery raises its output from 120 to 121 crates a day, its total cost rises from US$1,840 to US$1,895. Calculate the marginal cost of the 121st crate.

Complete: US$ …

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

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