Economics
WAEC 2021
A firm incurred the following costs in production. Use the information in the table to answer the question below.
Output
(bags of rice |
0 |
10 |
20 |
30 |
40 |
50 |
60 |
Total Cost ($) |
100 |
200 |
300 |
380 |
440 |
520 |
600 |
The fixed cost of production is___________
-
A.
$I00.
-
B.
$200.
-
C.
$300.
-
D.
$600
Correct Answer: Option A
Explanation
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