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Economics (AS & A Level) · May / June 2026 · Paper 34 · Question 3

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

In the short run, a firm produces an extra unit of output. Which of the firm's production costs will change?

  1. Afixed cost only
  2. Bfixed cost and variable cost
  3. Cvariable cost only
  4. Dvariable cost and total cost

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Correct answer: D. variable cost and total cost

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