A-level Paper 3, June 2023Microeconomics and Macroeconomics

A-level Paper 3, June 2023, Q1(c)

Discuss the likely impact of a rise in gas prices on a firm that uses a large amount of gas in its production process. Use a cost and revenue diagram to support your answer.

Data responseDiscuss12 marks

Case study

The UK economy

Original diagram required. See the original question paper for the diagram.

Specification topics

CostsNormal profits, supernormal profits and losses

Revision notes

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