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SingaporeEconomicsQuick questions
Firms and How They Operate
Quick questions on Short-run and long-run costs and economies of scale explained: H2 Economics
3short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is q1?Show answer
Distinguish a fixed cost from a variable cost. [2 marks]
What is q2?Show answer
Explain why marginal cost eventually rises in the short run. [3 marks]
What is q3?Show answer
State two sources of economies of scale. [2 marks]
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