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Edexcel IGCSE Economics 1.2.3.a business revenue cost and profit formulae

Edexcel IGCSE Economics 1.2.3.a business revenue cost and profit formulae
Edexcel IGCSE Economics syllabusEconomics 4EC1First assessment 2019

Practise business-formula questions by using price, output, fixed cost and variable cost data to calculate revenue, cost or profit.

How this is tested

  • Calculate total revenue, total cost or profit from prices, output and cost tables.
  • Select the correct formula for average cost, total revenue or profit change.
  • Define cost and revenue terms using fixed, variable, average or total values.

Question 2(c)

[Maximum number: 2]

Figure 3 shows a long-run average cost (LRAC) curve diagram.

Figure 3

Figure 3

Figure 4 shows some of the financial information in August for a shop selling ice creams at a price of $ 3.50 each.

Figure 4

Figure 4

Calculate the total revenue for the shop in August. You are advised to show your working.