Economics (AS & A Level) · Oct / Nov 2022 · Paper 32 · Question 10

9708Types of cost, revenue and profit, short-run and long-run production

The table shows the estimated costs for operating a new factory at the end of its first year. Assuming the short run is one year, what are the total variable costs?

A$1m
B$6m
C$10m
D$30m

As printed in the paper

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Correct answer: B. $6m

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