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The shape of the average cost (AC) shows that as production increases

Economics
WAEC 1998
The shape of the average cost (AC) shows that as production increases
  • A. total cost decreases
  • B. average cost decreases and then increases
  • C. average cost increaeses
  • D. marginal cost steadily increase
  • E. total cost remains constant
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Correct Answer: Option B
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts