Costs and Revenue Diagrams, Economies & Diseconomies of Scale, Normal & Supernormal Profit, Shutdown

Outstanding Economics Revision Notes / Booklet covering:

• The Relationship between Price, Total Revenue and Marginal Revenue
• Fixed Costs, Variable Costs, Total Cost, Average Cost and Marginal Cost
• The Average Variable Cost Curve and the Average Fixed Cost Curve
• Diminishing Marginal Productivity
• The Short-Run Average Cost Curve and the Long-Run Average Cost Curve
• (Internal) Economies of Scale and Diseconomies of Scale
• External Economies of Scale
• Normal Profit and Supernormal Profit
• Profit Maximisation, Revenue-Maximisation and Sales Maximisation Strategies
• The Shut-down Point
• List of Key Terms / Definitions

Excellent Revision tool / notes that can be given to your students!

Specifically designed for EDEXCEL A-Level Economics, but also suitable for AQA.