![]() c Identify and explain two ways the size of Omar’s business can be measured. So you should always include the units as it is an important part of the answer. If you don’t include the % symbol, it might suggest that you don’t fully understand the method. For example some ratios such as gross profit margin are expressed as a percentage. Note: For any numerical question, it is important to include the units. It has used the right numbers but the final answer has not been calculated, which the question requires. iii The formula is correct, so could be rewarded. ii This response has calculated total revenue, which is not the question set. Always include all your workings to maximise your chances of success. Answer: Total costs = fixed costs + variable costs $500 + (20 × 20) $500 + $400 Total costs = $900 Sample answers (written by the authors): 349 i TC = FC + $40 ii $1,000 iii TC = total fixed costs + total variable costs = 500 + 400 Comments on part (b): i The formula is incomplete, and $40 is wrong as it should be $400. b Calculate the weekly total costs of the new airport service. iii This shows some understanding, but the link to level of output hasn’t been made. Remember it doesn’t have to be a textbook definition to get both marks. ii This response gives a clear explanation. This answer hasn’t actually explained the term, so no credit can be given. 27: Exam technique Comments on part (a): i The words have simply been reordered.
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