Edexcel International · Unit 3: Business behaviour · 3.3 Revenues, costs and profits

Edexcel International Economics past paper questions: Revenues, costs and profits

Every Edexcel International question on Revenues, costs and profits from 2020 to 2025: 2 essays, 15 data response questions and 42 multiple choice questions. Each question links to its paper, mark scheme and examiner report.

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Essay questions on revenues, costs and profits

Data response questions on revenues, costs and profits

Multiple choice questions

  1. A-level Unit 3, June 2025, Q4

    Which one of the following is the average variable cost if the garment manufacturer is producing 12 000 items?

  2. A-level Unit 3, June 2025, Q6

    Which one of the following can be deduced from the diagram at an output of 0X?

  3. A-level Unit 3, January 2025, Q1

    Which one of the following conditions is necessary for Luxottica to maximise its profits?

  4. A-level Unit 3, January 2025, Q4

    At which one of the following prices would the producer sell sweetcorn in the short-run but shut-down in the long-run?

  5. A-level Unit 3, January 2025, Q6

    6 Which one of the following diagrams illustrates the total revenue curve for a profit-maximising firm operating in a perfectly competitive market?

  6. A-level Unit 3, October 2024, Q1

    Which one of the following is the most likely outcome in the long-run?

  7. A-level Unit 3, October 2024, Q3

    Ceteris paribus, which one of the following is the most likely impact of the introduction of this maximum price for rice on producers?

  8. A-level Unit 3, October 2024, Q4

    4 The table shows the total costs of a clothing manufacturer producing jeans at different levels of output. Total costs Output $ 0 40 000 10 000 60 000 20 000 100 000 30 000 160 000 40 000 240 000 What is the average fixed cost per unit if…

  9. A-level Unit 3, October 2024, Q6

    Which one of the following diagrams would illustrate Apple's total revenue curve? A B Revenue Revenue Output Output C D Revenue Revenue Output Output

  10. A-level Unit 3, June 2024, Q2

    Which one of the following is the marginal cost of increasing the number of haircuts from 2 to 3? You may use the blank column for your workings.

  11. A-level Unit 3, June 2024, Q4

    Which one of the following is most likely to occur in the long-run?

  12. A-level Unit 3, June 2024, Q5

    Which one of the following combinations is the most likely impact of this decision? Supernormal profit Price

  13. A-level Unit 3, January 2024, Q2

    Which one of the following would be the textile manufacturer's marginal revenue if the price was reduced from $16 to $14? You may want to use the final column for your workings.

  14. A-level Unit 3, January 2024, Q3

    Ceteris paribus, which one of the following is the most likely outcome in the long-run?

  15. A-level Unit 3, January 2024, Q4

    Which one of the following is the most likely outcome of Google operating at its profit maximising output?

  16. A-level Unit 3, October 2023, Q4

    Ceteris paribus, which one of the following combinations indicates the impact of this increase in rental costs on Big Bazaar? Profit Price

  17. A-level Unit 3, October 2023, Q5

    Which one of the following is the average fixed cost if the shirt manufacturer is producing 10 000 shirts?

  18. A-level Unit 3, June 2023, Q3

    Which one of the following is the marginal cost of employing the additional worker?

  19. A-level Unit 3, June 2023, Q5

    At which one of the following would total revenue be maximised?

  20. A-level Unit 3, January 2023, Q1

    Which one of the following is the reason why the MC curve slopes upwards from point X to point Y?

  21. A-level Unit 3, January 2023, Q2

    Which one of the following is the firm's average variable cost at this level of output?

  22. A-level Unit 3, January 2023, Q4

    Which one of the following can be deduced from this diagram?

  23. A-level Unit 3, January 2023, Q5

    Which one of the following is the most likely impact of this decision?

  24. A-level Unit 3, October 2022, Q1

    Which one of the following is also a barrier to entry for new firms?

  25. A-level Unit 3, October 2022, Q2

    Which one of the following can be deduced from the information provided?

  26. A-level Unit 3, October 2022, Q4

    4 A car manufacturer employs 40 engineers at a wage rate of $570 per week. To attract an additional worker, the car manufacturer must raise the wage rate for all engineers to $590 per week. What is the marginal cost of employing this…

  27. A-level Unit 3, October 2022, Q5

    Which one of the following would cause a firm to shut down in the short-run?

  28. A-level Unit 3, June 2022, Q2

    Which one of the following can be deduced from the diagram?

  29. A-level Unit 3, June 2022, Q3

    Which one of the following is the average variable cost at 300 units?

  30. A-level Unit 3, January 2022, Q1

    1 In 2020 the Turkish airline AtlasGlobal ceased its operations. Which one of the following will cause a firm to shut down in the short-run?

  31. A-level Unit 3, January 2022, Q2

    Which one of the following can be deduced from the diagram?

  32. A-level Unit 3, January 2022, Q3

    Which one of the following can be deduced from the table?

  33. A-level Unit 3, October 2021, Q1

    Which one of the following is likely to be a benefit of this takeover for Electronic Arts?

  34. A-level Unit 3, October 2021, Q4

    4 The table shows the total costs of producing sports footwear by a firm in the USA. Units of output Total Cost ($) 0 12 1 16 2 19 3 22 4 27 5 33 6 40 7 48 Between which of the following outputs do diminishing returns start to set in?

  35. A-level Unit 3, October 2021, Q6

    6 Which one of the following combinations best describes a profit-maximising firm operating in a monopolistically competitive market in the long-run? Efficiency Profit

  36. A-level Unit 3, June 2021, Q1

    Which one of the following conditions is necessary for Mara Group to maximise sales volume of this new phone without making a loss?

  37. A-level Unit 3, June 2021, Q3

    3 Which one of the following diagrams illustrates a firm's average fixed cost curve?

  38. A-level Unit 3, June 2021, Q5

    5 The table shows a firm's total costs of producing textbooks. Output Total costs ($) 0 14 000 1 000 15 000 2 000 16 000 3 000 17 000 4 000 18 000 5 000 19 000 What would be the average variable cost at an output of 4 000 textbooks?

  39. A-level Unit 3, January 2021, Q3

    Which one of the following will be true for a hairdressing salon in long-run equilibrium?

  40. A-level Unit 3, January 2021, Q6

    Which one of the following best characterises such a firm? Marginal Revenue

  41. A-level Unit 3, October 2020, Q2

    Which one of the following is true?

  42. A-level Unit 3, January 2020, Q5

    Which one of the following is true?

Question text is quoted from the question papers, © Pearson Edexcel, for students’ private study. Open the official papers and mark schemes from the links on each question. Examiner insights are written with AI assistance and moderated by Finn.